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Examples of Variation*
Most durable goods fall into the high sensitivity classification, the majority of nondurable outlays in the average group, and about two-thirds of service expenditures in the below average class. But there are variations as between items and types of expenditures throughout the list.
An example is provided by the three basic necessities — food, s.ielter and clothing. The shelter category, which includes expenditjres for miscellaneous household opei atior. services, is the only one of the three to rate the low sensitivity classification. Shelter expenditures fluctuate at a rate no more than half that of changes in personal income, and only a handful of items, among which the public utilities are prominent, has a lower sensitivity index. Food falls into the average classification, the records showing that most food expenditures and income tend to change at the^same rate. On the other hand, the greater part of,the clothing group has the above average sensitivity rating except for shoes and footwear, which are average. Auto* Havo High Rating
Wide variations are found among durable goods as well. Automobiles, new and used, have a very high sensitivity rating, their demand rising or falling twice as fast as overall income changes. This ratio is higher than that of most other durables and » twice the sensitivity index of refrigerators and washing and sowing machine*. While cost may be a factor K la interesting te
66.8%