U.S. Durable Goods Orders Jump More Than Expected In September
(RTTNews) - Largely reflecting a surge in orders for transportation equipment, the Commerce Department released a report on Tuesday showing new orders for U.S. manufactured durable goods shot up by more than expected in the month of September.
The Commerce Department said durable goods orders jumped by 1.8 percent in September following a revised 0.1 percent uptick in August.
Economists had expected durable goods orders to grow by 1.4 percent compared to the 0.1 percent dip that had been reported for the previous month.
Excluding the 4.6 percent spike in orders for transportation equipment, durable goods orders climbed by 0.5 percent in September after rising by 0.3 percent in August. Ex-transportation orders were expected to increase by 0.6 percent.
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