New orders for U.S. manufactured goods showed a notable rebound in the month of February, according to a report released by the Commerce Department on Tuesday, with the increase largely due to strength in the volatile transportation sector.
The report said factory orders surged up by 3.0 percent in February following a revised 1.0 percent decrease in January. Economists had expected orders to increase by 2.9 percent compared to the 2.0 percent drop that had been reported for the previous month.
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