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Factory Orders Drop 0.6% in Second Straight Decline
Factory orders fell 0.6% in April, the second straight monthly decline, the Commerce Department said Monday.
The drop followed a revised 2.1% decline in greater than the 1.5% slide originally reported.
Economists had forecast a 0.2% decline, Bloomberg reported. The downturns were the first back-to-back drops in more than three years
Factory orders excluding transportation equipment rose fell 1.1%, while durable goods bookings were unchanged.
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Motor vehicle and parts orders fell 0.5%, following a 2% gain.
The trucking industry relies on factory orders and shipments for much of its business.
