Factory Orders Rise 1.1% in June
Factory orders increased 1.1% in June, the biggest gain in three months, the Commerce Department reported Aug. 5.
The rise followed a 0.6% decline in May. Bookings for nonmilitary equipment excluding aircraft, a proxy for capital equipment demand, advanced 3.3%, Bloomberg News reported.
The Institute for Supply Management’s manufacturing index, released last week, climbed in July to 57.1, the highest since April 2011, from 55.3 a month earlier. Orders and production expanded at their fastest paces of the year, helped by increases in purchases of automobiles and business equipment, Bloomberg reported.
The trucking industry relies on factory orders and shipments for much of its business.
