India, Feb. 27 -- Reflecting a substantial rebound by orders for transportation equipment, the Commerce Department released a report on Thursday showing new orders for U.S. manufactured durable goods surged by more than expected in the month of January.
The Commerce Department said durable goods orders shot up by 3.1 percent in January after tumbling by a revised 1.8 percent in December.
Economists had expected durable goods orders to jump by 2.0 percent compared to the 2.2 percent slump that had been reported for the previous month.
The sharp increase by durable goods orders came as orders for transportation equipment spiked by 9.8 percent in January after plunging by 5.5 percent in December.
Orders for non-defense aircraft and parts l...