Factory Orders Rise 1.5% in November

U.S. factory orders rose 1.5% in November, the Commerce Department said Thursday.

The biggest increase in four months followed a 0.7% gain in October that was more than originally reported, Commerce said.

The upturn was greater than economists’ forecasts of a 0.5% rise, Bloomberg reported.

Excluding transportation orders, bookings rose 1.4%. The gain was propelled by growth at petroleum refineries, Bloomberg said.

Durable goods orders, which make up just over half of all orders, fell 0.1% following a 0.5% decline in October.

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