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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 Friday.
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 previously reported 3.2 percent surge.
Excluding a jump by orders for transportation equipment, durable goods orders still rose by 0.7 percent in February after inching up by 0.1 percent in January. Ex-transportation orders were expected to rise by 0.2 percent.
