Factory Orders Jump 2.4% in Biggest Gain in Four Months

Factory orders rose by the most in four months in July, the Commerce Department said Wednesday.

The gains were led by the transportation sector, as vehicle orders rose by the most in four months.

The increase followed a revised 0.4% drop in June that was smaller than the 0.6% downturn originally reported.

The July gain topped economists’ forecasts of a 2% increase, Bloomberg reported.

Capital goods orders excluding aircraft and military orders, a measure of future business investment, fell 0.9%.

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