Factory Orders Rise 1.6% in February
Factory orders increased 1.6% in February, the Commerce Department reported April 2.
The rise followed a revised 1% decline in January that was smaller than initially reported.
The increase was larger than economists’ forecast of a 1.2% rise, Bloomberg News reported.
Durable goods orders increased 2.2% in February. Orders for capital goods, excluding transportation equipment, declined 1.4% after a 0.8% rise in January.
The trucking industry relies on factory orders and shipments for much of its business.