Consumer Confidence Rises in August

Consumer confidence rose in August, as fuel prices fell as gasoline prices fell, the New York-based Conference Board said Tuesday.

The group’s monthly index rose to a 56.9 reading, from 51.9 in July.

The level was above economists’ forecasts of a 53 reading, Bloomberg said.

The consumer confidence index is a predictor of consumer spending. When people are feeling less confident about the economy, they are less likely to spend money, which decreases demand for trucking services.