May Factory Orders Dip 0.5%

U.S. factory orders fell 0.5% in May, the Commerce Department said Tuesday.

The decline followed a 0.5% gain in April and but was less than the 1.2% forecast by economists, Bloomberg reported.

Excluding transportation orders, bookings rose 0.7% following a 1% increase.

Durable goods orders, which make up just over half of all orders, fell by 2.4% following a 1% gain in April.

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