India, March 26 -- New orders for U.S. manufactured durable goods unexpectedly increased in the month of February, according to a report released by the Commerce Department on Wednesday.
The Commerce Department said durable goods orders climbed by 0.9 percent in February after spiking by an upwardly revised 3.3 in January.
Economists had expected durable goods orders to slump by 1.0 percent compared to the 3.2 percent surge that had been reported for the previous month.
The unexpected growth by durable goods orders partly reflected a continued increase by orders for transportation equipment, which jumped by 1.5 percent in February after soaring by 10.2 percent in January.
However, excluding orders for transportation equipment, durable g...