Factory Orders Increase 0.3%

Factory orders rose 0.3% in April, the Commerce Department said Monday.

The uptick followed a revised 4.1% gain in March that was higher than originally reported, Commerce said.

The April rise was less than economists’ forecasts of a 0.7% increase, Bloomberg reported.

Excluding transportation orders, bookings rose 0.7% following a 2.4% increase.

Durable goods orders, which make up just over half of all orders, rose 0.8% following a 5.1% jump in March.

The trucking industry relies on factory orders and shipments for much of its business.