U.S. Durable Goods Orders Rebound More Than Expected In March

(RTTNews) - New orders for U.S. manufactured durable goods rebounded by more than expected in the month of March, according to a report released by the Commerce Department on Wednesday.

The Commerce Department said durable goods orders climbed by 0.8 percent in March after tumbling by a revised 1.2 percent in February.

Economists had expected durable goods orders to rise by 0.5 percent compared to the 1.3 percent slump that had been reported for the previous month.

Excluding orders for transportation equipment, durable goods orders grew by 0.9 percent in March after jumping by 1.2 percent in February. Ex-transportation orders were expected to increase by 0.4 percent.