Gas prices continue to fall as analysts look ahead
Gasoline prices in the Pittsburgh region fell 0.6 cents over the past week, ending at $3.62 per gallon. Nationwide, the average price of gas fell by 0.4 cents to $3.57 per gallon, according to GasBuddy.com. Two price-determining factors will fight it out over the coming week, GasBuddy analysts predicted. The end of the summer driving season may work to lower prices, but a sharp decline in gasoline inventories could boost it by creating more demand for the product. In Pittsburgh and across the nation, gas prices have been on the decline for the past month.
Most retirement savings remain at year-ago level
Just 18 percent of working Americans said they were saving more for retirement this year compared with one year ago, according to a new Bankrate.com survey. Seventeen percent were saving less, and 54 percent were saving roughly the same amount. Employed people between the ages of 50 and 64 were the most likely to be saving less this year, the survey found.
Long-lasting factory goods orders fall amid market woes
Orders for long-lasting U.S. factory goods fell sharply last month as demand for commercial aircraft plummeted and businesses spent less on computers and electrical equipment. Orders for durable goods plunged 7.3 percent in July, the Commerce Department said Monday. It's the steepest drop in nearly a year. Orders for so-called core capital goods, which exclude volatile orders for aircraft and defense, fell 3.3 percent.
McDonald's launching new wings as part of revamp
McDonald's Corp. plans to introduce bone-in chicken wings across the U.S. next month as CEO Don Thompson revamps the restaurant chain's domestic menu. Mighty Wings will roll out Sept. 9 and be in all U.S. stores by Sept. 24 until the end of November, Ofelia Casillas, a McDonald's spokeswoman, said in an email Monday. The wings will be sold in three-, five- or 10-piece packs, starting at $2.99.
Association's poll reveals worries on projected deficit
The biggest fiscal challenge facing the U.S. is the size of projected deficits in the 2020s and 2030s, according to a survey by the National Association for Business Economics. The NABE said 39 percent of those surveyed felt the best way to address the deficit-to-gross domestic product ratio in the next few decades is a mix of spending restraint and increased revenue.