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Updated:
9/2/2009 10:30:00 AM
July Factory Orders Rise 1.3%
Factory orders rose 1.3% in July, the fourth straight gain, the Commerce Department said Wednesday.
The increase followed a revised 0.9% increase in June that was higher than originally reported.
The July upturn was below economists’ forecast of a 2.2% increase, Bloomberg reported.
Durable goods orders, which make up slightly more than half of orders, surged 5.1%, the most in two years. Non-durables orders fell 1.9%, the biggest drop this year.
Excluding transportation orders, which tend to be volatile, orders fell 0.7%. Transportation orders jumped 19%, led by a surge in commercial aircraft orders. Auto orders declined 1.3%.
The trucking industry relies on factory orders and shipments for much of its business.
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