Business investment stalls as 'fiscal cliff' looms

Business investment showed signs of stalling in September, an indication that worries over a possible sharp tightening in the federal budget are already weighing on the economy.

Other data on Thursday showed the number of Americans filing new claims for unemployment benefits fell last week, a fresh sign the labor market is slowly healing.

New orders for capital goods outside of defense and excluding aircraft -- a proxy for business spending plans -- was unchanged last month at $60.3 billion, Commerce Department data showed. Analysts polled by Reuters had expected a modest gain.

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- Posted: 2012-10-25 15:11:05

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