Factory orders increased for a third consecutive month, rising 0.7% in April, the Commerce Department reported June 3.
The rise followed a 1.5% increase in March. April’s increase was larger than economists’ forecast of a 0.5% rise, Bloomberg News reported.
The three gains in factory orders are seen as evidence that manufacturing is regaining momentum after a harsh winter and will provide support to the economy, the Associated Press reported.
The trucking industry relies on factory orders and shipments for much of its business.