Article updated: 11/27/2012 12:17 PM

U.S. orders for core capital goods up 1.7 percent

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Mary Ann Rotolo shops for a microwave oven at Orville's Home Appliances store in Amherst, N.Y. U.S. companies in October increased their orders of machinery and equipment that signal investment plans by the largest amount in five months, a hopeful sign for future economic growth.

Associated Press

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U.S. companies in October increased their orders of machinery and equipment that signal investment plans by the largest amount in five months, a hopeful sign for future economic growth.Orders for core capital goods, considered a proxy for business investment, rose 1.7 percent in October, the best showing since a 2.3 percent rise in May, the Commerce Department said Tuesday. Orders in this category had slowed beginning in the spring, acting as a drag on overall economic growth.