Business Spending Up: A Nice Sign

Companies increased their orders for durable equipment last month, a very nice sign.

Surveys of business confidence have shown a lot of gloom, both among Fortune 500 CEOs as well as small business owners.  The actual placement of orders, though, says more than surveys of attitudes.  Especially strong is communication equipment.

In my economic forecast, I don't have business capital spending improving until late in the year.  If we get another good monthly number, I'll adjust my forecast upward.