Factory Orders Decline in October

Factory orders decreased 0.4% in October, the Commerce Department said Monday.

The decline followed a revised 0.1% decrease in September that was originally reported as a 0.3% gain.

The October decline was a bigger downturn than economists’ forecasts of a 0.3% decrease, Bloomberg reported.

Capital goods orders excluding aircraft and military orders, a measure of future business investment, declined 0.8% following a 1.4% gain the previous month.

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