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The report said durable goods orders surged up by 5.7 percent in February following a revised 3.8 percent decrease in January. Economists had expected durable goods orders to rise by 3.5 percent compared to the 4.9 percent decrease that had been reported for the previous month.
Excluding orders for transportation equipment, however, durable goods orders fell by 0.5 percent in February compared to a 2.9 percent increase in January. Ex-transportation orders had been expected to increase by 0.7 percent.
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