August Factory Orders Plunge 4%

Factory orders fell 4% in August, the most in almost two years, the Commerce Department said Thursday.

The downturn followed a revised 0.7% increase in July that was smaller than first reported.

Economists had forecast a 3% decline, Bloomberg reported.

Excluding transportation orders, bookings fell 3.3%, Commerce said.

Durable goods orders, which make up about half of factory orders, fell 4.8%.
 
The trucking industry relies on factory orders and shipments for much of its business.