Orders for Business Equipment Surge by the Most Since 2020 as AI Boom Rolls On

Orders for core business equipment posted their largest monthly increase since the summer of 2020, the Commerce Department reported Wednesday, driven by surging demand for computers and electronic products as companies continue to pour money into artificial intelligence.

The value of orders for nondefense capital goods excluding aircraft — the closely watched proxy for business spending on equipment — jumped 3.3 percent in March, far exceeding the 0.5 percent gain economists had forecast. February’s figure was revised sharply higher, to a 1.6 percent advance from the initially reported 0.6 percent, meaning businesses have now ramped up…

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