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[C3.] BUSINESS SPENDING SLIPS Although manufacturing orders, a crucial measure of business spending, fell 0.5percentt in April, the dip was less severe than economists had forecast.
Instead, it has depended more on business spending and exports.
Strong results from Oracle also revived hopes about business spending.
Business spending on equipment and software has risen significantly.
Business spending has dropped sharply, but consumers keep buying.
Still, consumer spending in the United States has been surpassed by business spending.
He noted new weakness in manufacturing and business spending, areas of strength earlier this year.
A collapse in business spending on plant and machinery accounted for much of the rest.
A category of durable goods that can be a gauge of business spending also rose.
"These changes in financial conditions then affect household and business spending.
Capital goods orders are a closely watched proxy for business spending plans.
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