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

(RTTNews) - A report released by the Commerce Department on Thursday showed new orders for U.S. manufactured durable goods spiked much more than expected in the month of November.

The Commerce Department said durable goods orders surged up by 2.5 percent in November following a revised 0.1 percent uptick in October.

Economists expected durable goods orders to jump by 1.6 percent compared to the 0.4 percent drop that had been reported for the previous month.

Excluding a sharp increase in orders for transportation equipment, durable goods orders climbed by 0.8 percent in November after rising by 0.3 percent in October. Ex-transportation orders were expected to increase by 0.6 percent.