The Commerce Department released a report on Thursday showing new orders for U.S. manufactured durable goods spiked by much more than expected in the month of September.
The report said durable goods orders soared by 4.7 percent in September following a revised 0.1 percent dip in August.
Economists had expected durable goods orders to jump by 1.5 percent compared to the 0.1 percent uptick that had been reported for the previous month.
Excluding orders for transportation equipment, durable goods orders climbed by 0.5 percent in September, matching the increase in August. Ex-transportation orders were expected to rise by 0.2 percent.
