New orders for U.S. manufactured durable goods rebounded in the month of May, according to a report released by the Commerce Department on Thursday.
The report said durable goods orders surged up by 2.3 percent in May after falling by a revised 0.8 percent in April.
Economists had expected durable goods orders to spike by 2.7 percent compared to the 1.3 percent slump that had been reported for the previous month.
Excluding orders for transportation equipment, durable goods orders rose by 0.3 percent in May after jumping by 1.7 percent in April. Ex- transportation orders were expected to increase by 0.7 percent.
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