8/31/2012 11:00:00 AM
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Factory orders rose 2.8% in July, the biggest gain in a year, the Commerce Department said Friday.
The upturn followed a 0.5% decline in June. Economists had forecast a 2% increase for July, Bloomberg reported.
Excluding transportation orders, which tend to be volatile, orders improved 0.7%, following a 2.2% drop in June.
Bookings for non-military goods excluding aircraft fell 4% in July, a bigger drop than the 3.4% decline forecast, Bloomberg reported..
The trucking industry relies on factory orders and shipments for much of its business.
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