A capital-spending boom is boosting American manufacturing, with production of business equipment accelerating this year and strength spreading beyond computers into machinery, electrical equipment, fabricated metals and aerospace.
Output of business equipment rose 0.8 percent in July and was 6.6 percent higher than a year earlier, Federal Reserve data showed Tuesday. Production grew at a 12.7 percent annual rate in the second quarter after advancing at a 7.6 percent pace in the first three months of the year.
The gains helped manufacturing output rise 0.2 percent in July despite a decline in motor vehicle production. Factory output excluding…
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