U.S. durable goods orders data points to weak business spending

New orders for U.S. manufactured capital goods rose less than expected in June amid weak demand for machinery and a range of other goods, suggesting a prolonged downturn in business spending. Business investment remains soft despite data ranging from retail sales to housing suggesting that the economy has regained speed after growth almost stalled early in the year. The Commerce Department said on Wednesday non-defense capital goods orders excluding aircraft, a closely watched proxy for business