“Demand for capital goods rose in August while failing to make up for declines in the previous two months, signaling slowdowns in business investment and exports threaten to further restrain the U.S. economic recovery.
Orders for non-defense capital equipment excluding airplanes rose 1.1 percent after decreases of 5.2 percent in July and 2.7 percent in June, the Commerce Department reported today in Washington. Total orders for durable goods, those meant to last at least three years, plunged 13 percent, the most since January 2009, paced by a decline in demand for civilian aircraft.” (Bloomberg)
Saving is key.
FEE Timely Classic
The Economic Role of Saving and Capital Goods by Ludwig von Mises
