consumer durables
US consumer preferences shifting from durables to services
Running at 50-year lows below trend. Move from durables to services consumption could be big.
durable goods; durables: Any consumer good which has a significant life and which is not therefore immediately consumed.
By 1950 Americans smoked 350 billion cigarettes a year and the industry accounted for 3.5% of consumer spending on non-durables.
Household spending will fall much further than it has to date, and sales of homes, cars and other consumer durables will decline markedly.
Reynolds in the 1940s. By 1950 Americans smoked 350 billion cigarettes a year and the industry accounted for 3.5% of consumer spending on non-durables.
Consumer spending on durable goods has also rebounded, partly because home purchases stimulate demand for durables but also because credit has eased.
