Factory Orders Rise for First Time in Three Months

Factory orders rose 0.7% in May, the first gain in three months, the Commerce Department said Tuesday.

The increase followed a revised 0.7% decline in April, a bigger drop than originally reported.

Economists had forecast a 0.1% increase, Bloomberg reported.

Orders excluding transportation equipment rose 0.4%, while durable goods orders climbed 1.3%, the first gain in three months.

Shipments of capital goods increased 0.6%, following a 1.5% drop in April.

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