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U.S. Durable Goods Orders Climb 0.8% In March

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New orders for U.S. manufactured goods rebounded in the month of March, according to a report released by the Commerce Department on Tuesday.

The report showed durable goods orders climbed by 0.8 percent in March after tumbling by a revised 1.7 percent in February.

Economists had expected durable goods orders to jump by 1.0 percent compared to the 2.2 percent slump originally reported for the previous month.

Excluding orders for transportation equipment, durable goods orders surged by 1.1 percent in March after falling by 0.5 percent in February. Ex-transportation orders were expected to increase by 0.6 percent.

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