Factory Orders Jump 3.1%

Factory orders jumped 3.1% in March, the biggest gain in a year, the Commerce Department said Wednesday.

The increase followed a revised 1.4% upturn in February that was originally reported as a 1% gain, Commerce said.

The increase was higher than economists’ forecasts of a 2.2% drop, Bloomberg reported.

Excluding transportation orders, bookings rose 1.9%. Durable goods orders, which make up just over half of all orders, rose 3.7% after a 2.3% increase February.

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