Weak U.S. core capital goods orders point to deepening business investment downturn
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WASHINGTON (Reuters) - New orders for key U.S.-made capital goods fell sharply in February as demand for machinery and other products slumped, suggesting a deepening contraction in business investment that analysts said signalled the economy was already in recession.The coronavirus pandemic has further darkened the outlook for business investment as measures to contain the highly contagious virus have brought the country to a sudden stop. The Federal Reserve has taken extraordinary steps to..