Mumbai, April 25 -- A report released by the Commerce Department on Thursday showed new orders for U.S. manufactured durable goods surged much more than expected in the month of March amid a spike by orders for transportation equipment.
The Commerce Department said durable goods orders shot up by 9.2 percent in March after climbing by a downwardly revised 0.9 percent in February.
The much bigger than expected increase by durable goods orders came as orders for transportation equipment soared by 27.0 percent in March after jumping by 1.2 percent in February.
Orders for non-defense aircraft and parts led the way higher, skyrocketing by 139.0 percent in March after tumbling by 7.4 percent in February.
Excluding the spike by orders for tran...