Factory Orders Rise 3%, Biggest Increase in Five Months

Factory orders rose 3% in February, the biggest gain in five months, the Commerce Department reported Tuesday.

The increase followed a revised 1% decline in January that was smaller than the 2% drop originally reported.

The upturn was in line with economists’ forecasts of a 2.9% increase, Bloomberg News reported.

Durable goods demand led the increase, with a  5.6% surge, and automobile sales are on track for the best year since 2007, Bloomberg said.

Orders for capital goods excluding aircraft and military equipment, a measure of future business investment, fell 3.2% following a 6.7% jump the previous month.

Commercial aircraft orders, which tend to be volatile, jumped 95%.

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