U.S. Durable Goods Orders Jump More Than Expected In November

(RTTNews) - New orders for U.S. manufactured durable goods rose by much more than expected in the month of November, according to a report released by the Commerce Department on Tuesday, with the increase partly reflecting a rebound in orders for transportation equipment.

The report said durable goods orders surged up by 3.5 percent in November following a revised 0.7 percent decrease in October. Economists had expected orders to increase by about 2.0 percent compared to the 1.6 percent drop that had been reported for the previous month.

Excluding an 8.4 percent jump in orders for transportation equipment, durable goods orders still rose by 1.2 percent in November compared to a 0.7 percent increase in October. The growth compares to economist estimates for another 0.7 percent increase.