Factory orders show biggest growth in a year

WASHINGTON -- Factory orders rose 2.8 percent in July, the biggest overall advance in a year, the Commerce Department said Friday. But core capital goods orders, viewed as a good proxy for investment spending, plunged 4 percent, the fourth setback in the past five months.

Orders for durable goods, items meant to last three years or more, increased 4.1 percent, led by a 53.9 percent surge in the volatile category of commercial aircraft and a 20.6 percent increase for motor vehicles. Orders for non-durable goods, such as food, clothing and paper, increased 1.5 percent.