After reporting a steep drop in new orders for U.S. manufactured durable goods in the previous month, the Commerce Department released a report on Friday showing a rebound in durable goods orders in the month of November.
The Commerce Department said durable goods orders climbed by 0.8 percent in November after plunging by 4.3 percent in October. Economists had expected durable goods orders to jump by 1.6 percent.
Excluding a notable rebound in orders for transportation equipment, durable goods orders fell by 0.3 percent in November after rising by 0.4 percent in October. Ex-transportation orders had been expected to edge up by 0.2 percent.
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