The U.S. Commerce Department reported on Thursday that the value of new factory orders jumped 8.0 percent m-o-m in May, following a revised 13.5 percent m-o-m plunge in April (originally a 13.0 percent m-o-m decline). That was the biggest monthly advance in new orders since July 2014.

Economists had forecast an 8.7 percent m-o-m increase.

According to the report, orders for transportation equipment climbed 82.0 percent m-o-m in May after a 48.9 percent m-o-m tumble in April. Notable gains also occurred in orders for primary metals (+8.9 percent m-o-m), fabricated metal products (+7.4 percent m-o-m), and furniture and related products (+5.3 percent m-o-m). In addition, orders were up in electrical equipment, appliances, and components (+1.0 percent m-o-m), computers and electronic products (+0.7 percent m-o-m), and machinery (0.5 percent m-o-m).

Total factory orders excluding transportation, a volatile part of the overall reading, rose 2.6 percent m-o-m in May compared to a revised 8.9 percent m-o-m fall in April.