U.S. durable goods orders surged more than expected in November as orders for items such as cars and aircraft rose, the government reported Tuesday.
The Commerce Department said durable goods orders rose by 3.5 percent last month. Economists expected a 2 percent rise in November orders for durable goods.
Excluding the volatile transportation category, manufactured-goods orders rose 1.2 percent, the strongest gain since May.
Meanwhile, a broader measure of business spending on software and equipment rose at a fast pace in November after falling in recent months. Orders for nondefense capital goods, excluding aircraft, rose by 4.5 percent to its strongest pace since January.
Also, orders for motor vehicles rose 3.3 percent in November, rising at the strongest pace since February.