January Factory Orders Decline 2.5%

Factory orders fell 2.5% in January, the Commerce Department said Wednesday.

The gain followed a revised 2% gain in December that was smaller than originally reported, Commerce said. Excluding transportation orders, bookings fell 0.4%.

The downturn matched economists’ forecasts, Bloomberg reported.

Transportation orders plunged 13%, led by civilian aircraft. Automobile demand fell 1.7%, following a 4.4% drop.
 
The trucking industry relies on factory orders and shipments for much of its business.