After reporting an unexpected drop in new orders for U.S. manufactured durable goods in the previous month, the Commerce Department released a report on Monday showing a rebound in durable goods orders in the month of January.
The report said durable goods orders jumped by 1.8 percent in January after falling by a revised 0.8 percent in December.
Economists had expected orders to climb by 1.7 percent compared to the 0.4 percent drop originally reported for the previous month.
Excluding a sharp increase in orders for transportation equipment, durable goods orders edged down by 0.2 percent in January following a revised 0.9 percent advance in December.
Ex-transportation orders had been expected to rise by 0.5 percent, matching the increase originally reported for the previous month.
by RTT Staff Writer
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