Photo: A worker unpacks boxes of e-bikes at Rad Power Bikes in Seattle, Washington, on April 17, 2024. Photographer: David Ryder/Bloomberg. A worker unpacks boxes of e-bikes at Rad Power Bikes in Seattle, Washington, on April 17, 2024. Photographer: David Ryder/Bloomberg.

Orders placed with U.S. factories for business equipment rose modestly in March, indicating firms are cautious about demand prospects and tempering investment.

The value of core capital goods orders, a proxy for investment in equipment excluding aircraft and military hardware, increased 0.2 percent last month after a downwardly revised 0.4 percent advance in February, Commerce Department figures showed Wednesday. The data aren't adjusted for inflation.

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