Word: indexable
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There were a few hints last week that business might soon be starting to pick up a little. The Commerce Department reported that its index of leading economic indicators, which attempts to predict future business trends, rose .8% in April-its first increase in twelve months. Auto sales increased a surprisingly strong 12.3% during the middle ten days...
...bright spot of American business remains the progress against inflation. In March, the Consumer Price Index dropped for the first time in 17 years, and in April it rose at an annual rate of just 2.4%. In 1980, prices increased at a staggering 12.4% rate, and inflation was dangerously undermining the foundation of the U.S. economy. The major goal of the Reagan Administration has been to end such unsettling leaps, which erode incomes and make it difficult for corporations to plan...
...political coup de grace to Begin. Only two months ago, Begin had barely survived a 58-to-58 tie vote on a no-confidence motion. Peres found a new weapon in the government's latest statistics on inflation, which showed that in April alone the consumer price index had climbed by 10.7%. Over the past year inflation has been running at a rate of 117%. There were other grim economic indicators as well. Unemployment now stands at 5.4%, a troublesome figure for socialist-minded Israel, and labor relations are in an unhappy state. Late last week employees...
Losses to Yale (which precipitated Harvard's sharing of the Ivy title with Penn), UMass and UNH, surprisingly enough, turned up amid wins against both Yale and UNH in the Easterns. The team's intensity seemed to rise and fall with the regularity of the Dow Jones index. As one player said, until the game started you would never know whether the team had come to play...
...most popular idea among academic experts is to index benefits either to the rise in prices or to the increase in average wages throughout the economy-whichever is less. That would keep benefits in inflationary periods from racing far ahead of tax collections, which are keyed to the rise in wages. Advocates defend the plan on grounds of equity too: Why should the elderly be afforded fuller protection against the ravages of inflation than the young and middle-aged workers whose taxes pay for their pensions...