India, April 24 -- 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.
Economists had expected durable goods orders to jump by 2.0 percent compared to the 1.0 percent increase that had been reported for the previous month.
"Companies are front running the tariffs, so these durable goods data aren't something to get excited about," said Jamie Cox, Managing Partner for Harris Financial Group. "The good news is that companies are prote...