After reporting a sharp pullback by new orders for U.S. manufactured durable goods over the two previous months, the Commerce Department released a report on Thursday unexpectedly showing a significant rebound by durable goods orders in the month of August.
The Commerce Department said durable goods orders shot up by 2.9 percent in August after tumbling by a revised 2.7 percent in July and plummeting by 9.4 percent in June.
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