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Data: FRED; Chart: Axios Visuals

The willingness of businesses to invest in themselves shows no sign of slowing.

Driving the news: Core capital goods orders rose 0.8% in September, beating economist expectations for growth of around 0.4%, government data out yesterday show.

Why it matters: It's a key measure of business spending on equipment, and strength here shows companies' willingness to invest in the future.

  • September's rise is the biggest monthly increase since June.

The bottom line: The latest release “is consistent with our view that business capex will be much stronger over the next few years than during the previous economic cycle, boosting productivity growth,” Ian Shepherdson, chief economist at Pantheon Macroeconomics, wrote in a research note.

Go deeper

John Frank, author of Denver
Dec 6, 2021 - Axios Denver

New Colorado economic outlook shows slowing job growth in 2022

Expand chart
Data: Colorado Business Economic Outlook; Chart: Jacque Schrag/Axios

Colorado is expected to exceed pre-pandemic employment levels in 2022, but job growth will come slower than this year.

The latest: The Colorado Business Economic Outlook set for release Monday suggests we will no longer rank in the top 10 states for employment growth in 2021 or 2022.

New Zealand aims to create smoke-free generation with tobacco ban

New Zealand Prime Minister Jacinda Ardern at a December news conference in Auckland, New Zealand. Photo: Phil Walter/Getty Images

New Zealand officials announced Thursday legislative plans to outlaw smoking by making it illegal to sell or supply tobacco products to the next generation as part of a lifetime ban.

Why it matters: "People aged 14 when the law comes into effect will never be able to legally purchase tobacco," Associate Health Minister Ayesha Verrall said in a statement announcing the proposed law, part of the Smokefree 2025 Action Plan.

FDA approves AstraZeneca COVID drug for people with immune problems

Photo: Qilai Shen/Bloomberg via Getty Images

The Food and Drug Administration issued an emergency use authorization for an AstraZeneca COVID-19 antibody drug for people with compromised immune systems.

Why it matters: The drug, Evusheld, is the first antibody therapy authorized in the U.S. to prevent coronavirus symptoms before virus exposure.