Factory Orders Decline in June

U.S. factory orders dropped 1.2% in June, the Commerce Department said Tuesday.

The decrease followed a revised 1.8% fall in May that was larger than originally reported.

The decline was larger than economists’ forecasts of a 0.5% decrease, Bloomberg reported.

Durable goods orders, which make up just over half of all orders, fell 1.2%, while non-durables orders such as oil and food dropped 1.3%.

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