Business spending plans weak in July

via BayouBuzz:  Business spending plans weak in July.

A gauge of planned spending by businesses fell in July for a second straight month, suggesting a slowing growth trend in the factory sector, even though demand for long lasting manufactured goods surged.

The Commerce Department said on Friday non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, declined 3.4 percent after falling 2.7 percent in June.