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After reporting a steep drop in U.S. durable goods orders in the previous month, the Commerce Department released a report on Wednesday showing orders unexpectedly rebounded in the month of October.
The Commerce Department said durable goods orders climbed by 0.6 percent in October after plunging by a revised 1.4 percent in September.
Economists had expected durable goods orders to decrease by 0.8 percent compared to the 1.2 percent slump that had been reported for the previous month.
Excluding orders for transportation equipment, durable goods orders still rose by 0.6 percent in October after falling by 0.4 percent in September. Ex-transportation orders had been expected to inch up by 0.1 percent.
