Word: indexable
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Other statistics embroidered the picture of deepening decline. The index of leading indicators, those measurements of the economy that are thought to give the best clues to the future, dropped .6% in January, its ninth straight downward move. The index would have fallen a shocking 2.8% if Government statisticians had not decided to exclude from the calculations a sharp decline in the length of the average work week, on the questionable ground that severe weather in January had distorted that figure. New orders received by American factories fell 1.2% in January, despite a sharp rise in orders received by defense...
Local Government Financing. States, cities and counties traditionally raise much money for public works by selling bonds. The costs of doing so are becoming staggering. One index of interest rates on such municipal bonds shows them averaging around 13%, almost exactly double the rate in 1979. That is a truly astonishing rate, because the interest on these bonds is exempt from federal income taxes; for a buyer in the 50% tax bracket, a 13% municipal-bond yield is equivalent to a 26% yield on a corporate bond. Moreover, states and cities are incurring these costs at a time when...
...airpower. With recruits from a local model airplane club, he sent up a squadron of a dozen remote-controlled planes to engage the starlings in dogfights. Said Biestek: "When you saw a flock coming in, you just aimed an airplane at it. The airplanes have a very high fright index. We got rid of well over 95% of the birds." The starlings were only scared to death, not actually dead; no bird casualties have been confirmed. But five of Biestek's planes were downed, two permanently. And air superiority lasted only a few days. Last week a flock...
...inflation rate. There has been a fundamental change in the wage structure of American industry." Eckstein points to a drop in the so-called core inflation rate. This measures the rise in costs of production due to wages and spending for capital equipment. Unlike the consumer price index, it excludes temporary fluctuations in food, energy and housing costs. He forecasts that the core inflation rate will dip from a peak of 9.2% in 1980 to 7.5% this year...
Fenn said yesterday that work began on the tapes--consisting of 68 dictabelts--in 1976 when the library obtained them. The log, a "finder's index," was completed recently, and some transcripts will be released early this summer, he added. Some tapes, containing classified information, will have to be cleared with the State Department and may never be available in their entirety...