Word: indexers
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Dates: during 1950-1959
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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...
...were changing their tune because an outpouring of new statistics showed a sudden and simultaneous hardening in the major muscles of the economy-capital expenditures, sales, new orders, inventories (see below). Every major industry counted in the Federal Reserve Board's index of production has boosted output from the low of last spring. The Fed felt recovery had progressed far enough to permit two more of its district banks, Minneapolis and Chicago, to raise their discount rates from 1¾% to 2%. Wall Street snorted bullishly at these figures, at midweek sent Dow-Jones industrials to the year...
...business was moving gradually ahead, so were prices. The Consumer Price Index inched up again last month for the 21st time in 23 months, stood at 123.9% of the 1947-49 average. While rising costs of transportation, medical services and food brought the index to a record high, food prices are now declining, which will show up in the index next month. The drop in food prices is expected to offset any rises that may come from fall-clothing and postage increases, thus keep the cost of living relatively stable in the months to come. Said Ewan Clague, commissioner...
Washington's statisticians released still more figures showing that the economy's rebound from recession, already sharper than in any other postwar upturn, is picking up speed. Items:¶ Industrial production for July stood at 133 on the Federal Reserve's index, up three points since June and seven points higher than the recession low of 126 in April (see chart). At this rate, say economists, the pre-recession level of 145 in August 1957 may well be topped before year...
...doted on physical and mental "setting-up" exercises, excluding from his mind any "idea or discovery of science" that might shake his personal conception of life ("His index was as rigorous as that of the Catholic Church"). In his sober and industrious periods, the mere thought of drink terrified him, and he would clutch Agnes, crying: "I have found my work, my peace, my joy . . . ! I will not say to you, my love, as a poet once said, that I will pluck the stars of heaven to hang them in your hair-I say to you there are no stars...