US durable goods orders jumped by 1.8 percent in August after rising by a revised 0.5 percent in July, according to a report released the Commerce Department on Monday. The bigger than expected increase in durable goods orders was largely due to a spike in orders for transportation equipment, which shot up by 5.5 percent in August after dipping by 0.4 percent in July. Orders for non-defense aircraft and parts led the way higher, soaring by 77.9 percent in August after plunging by 36.3 percent in July. Excluding the rebound in orders for transportation equipment, durable goods orders edged up by 0.2 percent in August after climbing by 0.8 percent in July.
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