India, March 5 -- New orders for U.S. manufactured goods surged by slightly more than expected in the month of January, according to a report released by the Commerce Department on Wednesday.
The report said factory orders shot up by 1.7 percent in January after falling by a revised 0.6 percent in December. Economists had expected factory orders to jump by 1.6 percent compared to the 0.9 percent decrease originally reported for the previous month.
The rebound by factory orders came as durable goods orders spiked by 3.2 percent in January after tumbling by 1.8 percent in December.
Orders for transportation equipment led the way higher, soaring by 9.9 percent during the month, as orders for non-defense aircraft and parts skyrocketed by 93....