Factory Orders Fall in August

U.S. factory orders fell 3.3% in August, the Commerce Department said Thursday.

The downturn followed a revised 3.4% increase in July that was lower than previously estimated, Commerce said.

The August downturn was greater than economists’ forecasts of a 2.8% decline, Bloomberg reported.

Excluding transportation orders, bookings fell 1.7% after a 1.7% gain in July.

Durable goods orders, which make up just over half of all orders, fell 4.9% following a 5.9% gain in July.

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