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Durable goods are just that: hard goods; they don't wear out quickly and can be used over and over again for at least several years. Think your car, TV, refrigerator or computer. These are certainly not disposable, one-time use items.
The opposite of a hard good is (surprise!) a soft good or, if you like, a non-durable good. These are products you use once, like your lunch at McDonald's, the gas in your car and the ugly sweater your grandmother bought you for your birthday. These items have an intended lifespan short of three years, or are consumed immediately.
Investors pay attention to the monthly durable orders report released by the Commerce Department around the end of each month. When durable goods are strong, it means that U.S. manufacturing is humming along, though economists tend to parse the numbers pretty closely. Big-ticket items can skew the overall results, since an order for, say, 75 Boeing 747s has a bigger impact than 75 iPods. Luckily, the data lets economists break down the sectors.
Home / Personal Finance / Lifestyle & Money / Consumer & Debt
Tuesday, May 06, 2008
Chrysler Offers $2.99 Gas for Three Years
FOXBusiness
In a time when many families are cutting back on spending of automobiles and gas, Chrysler is offering an incentive to new car buyers: $2.99 a gallon gas.
The car manufacturer will provide purchasers of new Chrysler, Dodge, or Jeep cars a $2.99 gas guarantee, starting on Wednesday and running through June 2.
The guarantee comes in the form of a branded fuel card that locks in the price of gas at $2.99 per gallon for the next three years.
A few car models are excluded from the deal, including all SRT performance vehicles, the classic Jeep Wrangler, and Dodge Challengers.
Chrysler hopes the plan will revive sluggish sales, which were down 23.5% in April 2008 compared with April 2007, according to USA Today.
New car owners will be allowed 12,000 miles of driving per year, based on the vehicle’s miles-per-gallon rating. Consumers can purchase 87-octane regular gasoline, diesel fuel, or E85, a gas and ethanol blend.
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