Home Markets U.S. consumer confidence at 17-month high; business spending on equipment strong

U.S. consumer confidence at 17-month high; business spending on equipment strong

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  • Consumer confidence ticks up to 17-month high in July
  • Core capital goods orders increase 0.5% in June
  • Core capital goods shipments rise 0.6%
  • House prices accelerate in May

WASHINGTON, July 27 (Reuters) – U.S. consumer confidence inched up to a 17-month high in July, with households’ spending plans rising even as concerns about higher inflation lingered, suggesting the economy maintained its strong growth clip early in the third quarter.

The economy’s prospects were further brightened by other data on Tuesday showing a solid increase in new orders for manufactured capital goods in June despite supply constraints hampering production at some factories, indicating that business spending on equipment could remain strong for a while.

The reports could ease worries about a sharp slowdown in growth in the second half of the year as the boost from massive fiscal stimulus fades. The economy is believed to have notched its second-fastest growth pace since 1983 in the…

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