July Factory Orders Rise 1.3%

Factory orders rose 1.3% in July, the fourth straight gain, the Commerce Department said Wednesday.

The increase followed a revised 0.9% increase in June that was higher than originally reported.

The July upturn was below economists’ forecast of a 2.2% increase, Bloomberg reported.

Durable goods orders, which make up slightly more than half of orders, surged 5.1%, the most in two years. Non-durables orders fell 1.9%, the biggest drop this year.

Excluding transportation orders, which tend to be volatile, orders fell 0.7%. Transportation orders jumped 19%, led by a surge in commercial aircraft orders. Auto orders declined 1.3%.

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