Factory Orders Rise 2.8% in July

Factory orders rose 2.8% in July, the biggest gain in a year, the Commerce Department said Friday.

The upturn followed a 0.5% decline in June. Economists had forecast a 2% increase for July, Bloomberg reported.

Excluding transportation orders, which tend to be volatile, orders improved 0.7%, following a 2.2% drop in June.

Bookings for non-military goods excluding aircraft fell 4% in July, a bigger drop than the 3.4% decline forecast, Bloomberg reported..

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