Factory Orders Rise in May

Factory orders increased 2.1% in May, the Commerce Department reported Tuesday.

The increase followed a revised 1.3% drop in April that was originally reported as a 1% rise.

The increase was larger than economists’ forecasts of a 2% rise, Bloomberg News reported.

Durable goods orders rose 3.7%, Bloomberg said.

Orders for capital goods excluding aircraft and military equipment, a measure of future business investment, rose 1.5% following a 1.2% rise the previous month.

Commercial aircraft orders, which tend to be volatile, increased 50.8%.

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