Factory Orders Decline 2.4% in July

Factory orders declined 2.4% in July, the Commerce Department reported Sept. 5.

The decrease followed a revised 1.6% increase in June that was originally reported as a 1.5% rise.

The decline was smaller than economists’ forecasts of a 3.4% drop, Bloomberg News reported.

Durable goods orders fell 7.4%. Orders for capital goods excluding aircraft and military equipment, a measure of future business investment, fell 4% following a 1.1% rise the previous month.

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