Factory Orders Jump 3.7%, Commerce Says

U.S. factory orders jumped 3.7% in July, the Commerce Department said Friday.

The increase followed a 1% increase in June that was larger than previously estimated, Commerce said.

The July gain was greater than economists’ forecast of a 3.3% gain, Bloomberg reported.

Excluding transportation orders, bookings rose 2.4% after falling 0.4% in June.

Durable goods orders, which make up just over half of all orders, jumped 6% following a 1.8% gain in June.

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