Reflecting a substantial rebound in orders for transportation equipment, the Commerce Department released a report on Thursday showing new orders for U.S. manufactured durable goods jumped much more than expected in the month of August.
The Commerce Department said durable goods orders surged up by 4.5 percent in August after falling by a revised 1.2 percent in July.
Economists had expected durable goods orders to climb by 2.0 percent compared to the 1.7 percent slump that had been reported for the previous month.
Excluding the spike in orders for transportation equipment, durable goods orders inched up by just 0.1 percent in August after rising by 0.2 percent in July. Ex-transportation orders had been expected to increase by 0.5 percent.
The material has been provided by InstaForex Company -
www.instaforex.com