Factory Orders Rise 1.1% in March
Factory orders increased 1.1% in March, the Commerce Department reported May 2.
The rise followed a 1.5% increase in February. March’s increase was smaller than economists’ forecast of a 1.5% rise, Bloomberg News reported. The gains follow declines in December and January.
Durable goods orders increased 2.9% in March.
Economists say rising demand will boost factory production in coming months, helping the economy emerge from a winter slowdown, the Associated Press reported.
The trucking industry relies on factory orders and shipments for much of its business.
