Factory Orders Rise in February

Factory orders rose 1.3% in February, the third increase in four months, the Commerce Department reported.

The upturn followed a revised 1.1% decline in January that was slightly larger than originally reported.

The February gain was lower than economists’ median forecast of a 1.5% increase, Bloomberg reported.

Capital goods orders excluding aircraft and military orders, a measure of future business investment, climbed 1.7% following a revised 3.4% drop in January.

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