Word: indexable
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...annual "mobility index," the Census Bureau reported last week that during the twelve months ending last March, recession or no, a normal one-fifth (19.8%) of the population (i.e., 33 million) had changed homes. Score for the more mobile Western states...
...Japan's third consecutive bumper rice crop. ¶ On London's Threadneeue Street, where stocks have bounced back 30% since the low point last February, industrial prices rose to a new 1958 high every day in the week. The London Financial Times's index stood at 205.4, only 7.9 points below the alltime high of July 1955. Transactions in a single day totaled 16,599,000 shares, highest in 17 months. The trigger was Britain's resoundingly successful effort since 1957 to protect the pound by raising interest rates, which has increased gold and dollar reserves...
...West Germany's eight independent stock exchanges, led by Düsseldorf, the bullishness neared 1955 levels. A year ago the index of share prices on the exchanges was 192. It hit 227 in June, has since soared to 277, rose five points in the first week of October. Chief reason: a shortage of stock because many companies have been using profits to expand rather than raise capital by new stock issues. The rise has brought in more foreign buyers, stirred Germany's first crop of small investors through new mutual funds whose business is booming...
From the Federal Reserve Board in Washington last week came the rosiest FRB comment yet on the comeback from the recession. Said the FRB: "Rapid recovery in economy activity continued in August. Industrial and construction activity, nonfarm employment and consumer buying rose further." The FRB index of industrial production rose three points in August, to 137% of the 1947-49 average, has regained more than half of the recession loss. Furthermore, the FRB found that it had underestimated the production climb in June and July, had to revise those figures upward...
Whether the market is at a record high depends on which yardstick is used. Like the Dow-Jones, Standard & Poor's index of 425 industrial stocks was close to a record at 52.06, only a shade under the alltime high of 52.18. On the other hand, the New York Times index, at 556.67, still had a good way to go to its 590.96. Moreover, the averages are heavily weighted in favor of leading blue chips, most of which have risen in the bull market. Thus they do not show that many another stock has declined. Some...