Afternoon Coffee: Consumer Confidence Jumps in August, Durable Orders Rise in July

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US consumer confidence rose 10.5 points in August, hitting its highest level in 7 months. The Conference Board’s consumer index reached 101.5 this month.

Orders for durable goods in the US increased 2% in July, mainly boosted by orders for new cars and trucks and military hardware. The jump last month was more than experts had predicted.

Drivers in the Midwest will soon see some relief at the gas pump now that BP has completed maintenance work on a broken down unit at its refinery in Indiana. The large distillation unit went offline Aug. 8 and pushed up gasoline prices in Chicago and surrounding regions.

Parents are pushing for a recall of Huggies wipes after some found what they called glass particles or shards in the wipes, which have reportedly irritated their child’s skin. Huggies, however, said the particles are not glass but fibers and do not pose a hazard to babies.

 

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