Word: indexable
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...poor quarterly reports show that some U.S. corporations have yet to escape from the mire of recession, despite signals that the slump is over. The Government reported last week that its index of leading economic indicators, which seeks to predict future business trends, jumped 2.4% in September, the fourth consecutive monthly increase. Yet interest rates continue to rise like an incoming tide. Major banks last week hiked the rate they charge their best corporate customers another half point to 14.5%. That could easily snuff out any strong economic recovery, and it may mean that business reports for the fourth quarter...
...what they buy, while they are limited in the income they have. I don't under stand why his [Carter's] answer to inflation was to put 2 million people out of work." In a Friday night TV speech, Rea gan pointed out that the consumer price index rose in September at a 12.7% annual rate and declared that Carter's record on inflation and unemployment "is a failure on a scale so vast, in dimensions so broad, with effects so devastating, that it is virtually without parallel in Amer ican history...
...could intensify the price spiral. Reagan had begun talking up a tax cut last winter and spring when the economy started plunging into recession. But in his 30-minute televised economic address late last week, he attacked the President for permitting a near doubling in the so-called misery index (see box) that Carter had badgered Gerald Ford with during the 1976 campaign, and argued in effect that big new cuts would now curb inflation as well as unemployment...
...misery index that Jimmy Carter first referred to during the 1976 campaign, and that Ronald Reagan keeps citing in his attacks on the President, was concocted during the 1973-75 recession by the late economist Arthur Okun, who called it the discomfort index. He saw it as a puckish way to spotlight the nation's economic ills. The measure is simply the sum of the inflation and jobless rates. On Election Day of 1976 the index stood at 12.8%, with inflation at 5% and unemployment at 7.8%. The rate has climbed to 20% during Carter's White House...
Reagan says that things have grown so unbearable that even the misery index is inadequate to measure the economic pain people now feel under Carter. He proposes a "family suffering index," which adds to unemployment the annual rate of increase in the costs of mortgages, gasoline and food. The F.S.I, stands at 77%, more than triple the level that prevailed when Carter took office. Arresting as it is, however, Reagan's yardstick has no more genuine economic validity than redefining the consumer price index so as to include only those items that go up the steepest...