Factory Orders Decline in October
Factory orders declined 0.9% in October, the Commerce Department reported Dec.5.
The rise followed a revised 1.8% rise in September.
The increase was smaller than economists’ forecast of a 1% drop, Bloomberg News reported.
Durable goods orders fell 1.6% in October after a 4.2% rise the prior month. Orders for capital goods excluding transportation equipment was unchanged after falling 0.1% in September.
Nondefense capital goods orders, excluding aircraft, dipped 0.6% after declining 1.2% the previous month.
The trucking industry relies on factory orders and shipments for much of its business.
