Factory Orders Rise 1% in April

Factory orders increased 1% in April, the Commerce Department reported Wednesday.

The increase followed a revised 4.7% drop in March that was larger than originally reported.

The increase was smaller than economists’ forecasts of a 1.5% rise, Bloomberg News reported.

Durable goods orders rose 3.5%, Bloomberg said.

Orders for capital goods excluding aircraft and military equipment, a measure of future business investment, rose 1.2% following a 1.1% rise the previous month.

Commercial aircraft orders, which tend to be volatile, increased 16.9%.

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