Factory Orders Rise in May

U.S. factory orders rose in May for the third time in four months, the Commerce Department said Thursday.

The 1.2% gain followed a revised 0.5% increase in April that was smaller than originally reported.

Economists had forecast a 0.9% increase for May, Bloomberg reported.

Durable goods orders, which make up slightly more than half of factory orders, rose 1.8%. Excluding transportation orders, which tend to be volatile, orders rose 0.8%.

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