Word: digit
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Businessmen sound almost perversely cheerful, even while reporting falling orders, production and profits. The reason: they can at last foresee a significant drop in inflation. The Consumer Price Index in September was still rising at a double-digit pace. But producer (wholesale) prices for "intermediate" goods such as textiles and steel showed no rise at all in October, the first time that had happened in six years. Prices for raw materials such as cotton and coal actually dropped a bit for the third straight month. Interest rates were sliding too: major banks last week cut the prime rate (on loans...
...increase, of between 12 and 15 per cent, will make next year the third straight in which total student costs rose at double-digit rates, and administrators say no end to that trend is likely unless the nation's inflation rate declines dramatically...
Interest rates have replaced inflation as the No. 1 double-digit nightmare of businessmen everywhere, and the sheer unpredictability of the future cost of money has all but paralyzed decision making in firms both large and small. Last week short-term interest rates moved a notch downward, as several of the nation's largest banks dropped their prime rate to 18%. But long-term rates for corporate bonds and other such investments actually showed signs of inching upward a touch...
...replanted digit is never anywhere near normal, either in mobility or in sensibility," May said, adding that Bates will have to undergo a lengthy period of physical therapy...
...bond fund. If the 5,000 savings banks and S and Ls in the U.S. suddenly had to start paying comparable interest rates on passbook accounts, many of them would go broke. As it is, an estimated 85% of all S and Ls are losing money because the double-digit interest that they are paying on a variety of certificates of deposit-14% and more-is higher than the 9% or so that they earn on old mortgages...