Word: indexable
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Singapore's economic dependence on the multinational corporations has hit it hard in these days of stagflation. The consumer price index rose 40 per cent in 1973. Tens of thousands have been laid off, while many more have had to accept shortened work weeks and other wage cuts. The state of the world capitalist economy has also provided the multinational corporations with an excuse to reduce operations in Singapore and move to greener pastures in other countries offering even lower wage rates and other investment incentives...
Even so, until the public is confident that an upturn has definitely begun, Congress is bound to come under increasing pressure to do more. Unfortunately, last week's economic news indicated that it will be some time before the pressure lifts. The index of leading indicators in March continued its downward trend. New orders to manufacturers fell 3% in March after a February rally, the sixth decline in seven months. Farm prices rose 4% in April, meaning that the present low inflation rate of 3.7% is likely to edge upward...
Inflation has subsided drastically, adding stability to consumer purchasing power. Helped by a sizable decline in food prices, the consumer price index in March rose at an annual rate of only 3.6%, less than a fourth of its increase as recently as last September. The performance in forthcoming months may not be quite that good, but price increases are slowing to a point where they no longer swallow up every penny of increase in consumers' earnings...
...before. In San Francisco, the city library's head of public information has noticed a sharp increase in demand for histories of the Depression. The staff has also been taught the meaning of such recondite phrases as "GNP implicit price deflator" (the nation's most comprehensive price index) by securities brokers who come in to look up reference publications no longer subscribed to by their thrift-minded firms...
...awards do not sell books to the preposterous notion that the official ceremonies should resemble the Academy Awards, with the myrmidons of show biz whooping things up on network TV. But the N.B.A. lists of nominees and winners over the past 26 years could serve as a remarkably concise index to the quality of postwar American literature and the broad concerns of American life...