New orders for U.S. manufactured durable goods increased by more than expected in the month of October, the Commerce Department revealed in a report on Wednesday.
The Commerce Department said durable goods orders jumped by 1.3 percent in October after spiking by 2.1 percent in September. Economists had expected durable goods orders to climb by 0.9 percent.
Excluding an increase in orders for transportation equipment, durable goods orders still surged up by 1.1 percent in October after jumping by 1.5 percent in September. Ex-transportation orders were expected to rise by 0.4 percent.