Feb. Factory Orders Rise 1%

Factory orders rose 1% in February following the biggest drop in six years, the Commerce Department said Wednesday.

The increase followed a revised 5.7% downturn in January that was originally reported as a 5.6% decline, Commerce said.
 
The increase was below economists’ forecasts of a 1.8% drop, Bloomberg reported.

Excluding transportation orders, bookings fell 0.4% following a 2.5% decrease.

Durable goods orders, which make up just over half of all orders, rose 1.7% after an 8.8% drop in January.

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