WASHINGTON (dpa-AFX) - Partly reflecting a rebound in orders for transportation equipment, the Commerce Department released a report on Tuesday showing a notable increase in new orders for U.S. manufactured durable goods in the month of February.
The report said durable goods orders jumped by 1.4 percent in February after plummeting by a revised 6.9 percent in January.
Economists had expected durable goods orders to shoot up by 1.3 percent compared to the 6.2 percent slump that had been reported for the previous month.
Orders for transportation equipment led the way higher, surging by 3.3 percent in February after plunging by 18.3 percent in January.
Excluding the rebound in orders for transportation equipment, durable goods orders climbed by 0.5 percent in February after falling by 0.3 percent in January. Economists had expected a 0.4 percent increase.
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