The U.S. Commerce Department reported on Wednesday that the durable goods orders climbed 11.2 percent m-o-m in July, following a revised 7.7 percent m-o-m jump in June (originally a 7.6 percent m-o-m surge).

Economists had forecast a 4.3 percent m-o-m advance.

According to the report, orders for durable goods excluding transportation rose 2.4 percent m-o-m in July, following a revised 4.0 percent m-o-m increase in June (originally a gain of 3.6 percent m-o-m), beating economists’ forecast of 2.0 percent m-o-m rise.

Meanwhile, orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, increased 1.9 percent m-o-m in July after a revised 4.3 percent gain m-o-m in June (originally a 3.4 percent m-o-m increase). Economists had called for a 1.9 percent m-o-m advance in core capital goods orders in July.