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US business investment rose in November for 2nd month


              In this April 6, 2016, photograph, a technician walks past vehicles on the assembly line at the Nissan Canton Vehicle Assembly Plant in...

In this April 6, 2016, photograph, a technician walks past vehicles on the assembly line at the Nissan Canton Vehicle Assembly Plant in...

WASHINGTON (AP) — U.S. businesses stepped up their spending on industrial machinery, steel, and other big-ticket items last month, a sign that one of the economy's weak spots may be improving.

The Commerce Department says a measure that tracks business investment rose 0.9 percent in November, after a slight 0.2 percent rise the previous month. Yet those gains follow a 1.5 percent drop in September.

Orders for all big-ticket factory goods fell 4.6 percent, mostly because of a sharp fall in demand for commercial aircraft, a volatile category. Excluding transportation-related goods, orders rose 0.5 percent.

The data suggests businesses may be loosening their purse strings after more than a year of cutbacks that have weighed on the economy. Business investment spending is down 3.9 percent this year compared with 2015.


Updated : 2021-07-25 02:49 GMT+08:00