October Factory Orders Fall 5.1%

U.S. factory orders fell 5.1% in October, the most in eight years, the Commerce Department said Thursday.

The downturn followed a revised 3.1% decline in September that was more than the 2.5% originally reported.

Economists had forecast a 4.5% decline, Bloomberg reported.

Excluding transportation orders, which tend to be volatile, bookings fell for a third straight month.

Durable goods orders, which make up about half of factory orders, plunged 6.9%, while non-durables orders fell by 3.4%.
 
The trucking industry relies on factory orders and shipments for much of its business.