Word: indexer
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Dates: during 1950-1959
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While most economic indexes were, unhappily, edging downward, the cost of living, just as unhappily, was still edging upward. Last week the Bureau of Labor Statistics reported that the consumer price index went up 0.2% during February to a new inflation high of 122.5 (vindex of 100 in 1947-49). Sharpest rise in the recession month's inflation was the advance of 0.4% in food prices, caused mostly by fresh fruit and vegetable shortages after the harsh winter freeze in Florida and the Deep South. Food prices are not likely to head downward, said the Bureau of Labor Statistics...
...gloom, the latest production estimates from the Federal Reserve showed a three-point drop to 130 on the index in February, a total six-point decline since the first of the year. All told, industrial production was down 17 points from the 1956 peak, a slightly bigger drop than during the 1953-54 recession...
...week. Tennessee's troubled coal industry is 50% laid off. Yet unemployment, percentagewise, is less than in the North. Texas unemployment is up to 5.7% of the labor force, yet retail sales are running 2% ahead of last year, and the University of Texas' index of business activity is 1% ahead of 1957. Department-store sales are down slightly, mainly because of bad weather. But at Atlanta's hard-selling Rich's department store, sales are even with last year. Businessmen count on their growing market, lower labor costs and the efficient new plants built...
...limit. Unemployment has risen but is only 1.9% of the labor force, not enough to bring a shift in the government's tight credit policy. ¶Italy's gross national product increased more than 5% last year, is expected to continue to climb; though the industrial production index in January was down seasonally from December, it still topped January 1957. Housing starts were down, but Italian leaders feel that the U.S. will halt its recession, avoid any effect on the Italian economy...
...whose homes are from 75% to 90% stocked with possessions bought lower-than-list, buy no other way. Thus, while economists worry about the seeming paradox of price rises in the face of a general economic decline, the fact is that the prices contained in the rising Consumer Price Index are not what people really pay. Auto prices last year went up 3-9% at wholesale and 1.5% at retail according to the indexes. But customers got such heavy discounts that they actually wound up paying less than the year before...