Factory Orders Improve 1.2% in April
U.S. factory orders rose 1.2% in April, the eighth straight gain, the Commerce Department said Thursday.
The increase followed a revised 1.7% jump in March that was larger than originally reported.
The improvement was below above economists’ forecasts of a 1.8% increase, Bloomberg reported.
Bookings excluding transportation orders, which tend to be volatile, fell 0.5% following a 3.8% gain.
Durable goods orders, which make up just over half of all orders, jumped 2.8%, while non-durables orders such as oil and food slipped 0.1%.
The trucking industry relies on factory orders and shipments for much of its business.
