Word: indexed
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Dates: during 1940-1949
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Overall U.S. production was slackening a bit. The Federal Reserve Board's production index (1935-39 average 100) dropped two points in February to 189, five points below a year ago. The Bureau of Labor Statistics' cost of living index slipped 1.1% between Jan. 15 and Feb. 15 to 169-the greatest monthly drop in nine years (but the index was still 27% above June 1946, when OPA was killed...
Ford predicted that future cuts in list prices will have to come from minor production short-cuts and further drops in the material index, but not from major model changes...
Actually, the price cuts far outnumbered the few increases; the overall wholesale price index was dropping. And there were prospects of more price cuts ahead, if manufacturers wanted to keep their enormous output from piling up. In January, the Department of Commerce reported, manufacturers' sales had taken more than seasonal drops, and inventories had jumped by $400 million, about twice the seasonal increase. Unemployment was still on the rise. The Bureau of the Census reported an estimated total of 3,200,000 jobless in February, highest since 1942. But the rate of increase had slowed up. New claims...
Optimism & Pessimism. Production had hardly slipped at all. The FRB index was at 191 for January (1935-39 average: 100), down only four points from the postwar peak last fall. Construction in February was 14% ahead of 1948. The steel industry scheduled its eighth straight week of overcapacity output, and the auto industry was heading for the best monthly production since...
...Prices and the cost of living index were going down...