After reporting an unexpected drop in new orders for U.S. manufactured durable goods in the previous month, the Commerce Department released a report on Wednesday showing that durable goods orders unexpectedly rebounded in the month of October.
The report said durable goods orders climbed by 0.4 percent in October following a revised 0.9 percent decrease in September.
Economists had expected orders to fall by 0.5 percent compared to the 1.3 percent drop that had been reported for the previous month.
However, excluding a notable rebound in orders for transportation equipment, durable goods orders fell by 0.9 percent in October after edging up by 0.2 percent in September.
The material has been provided by InstaForex Company – www.instaforex.com