Word: indexes
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Dates: during 1940-1949
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Standard production Index is the Federal Reserve Board's, which had slumped from its War II (alltime) high of 128 in December 1939 to a dispirited 102 in April. In June the Index was back up to 114, and continued advances of basic industries in July indicated that it was rising towards 120. Whenever this happens, businessmen who have been burned before begin looking for signs of an inventory glut, wonder how long the recovery can last. But last week they saw few signs of an inventory glut. Production was not piling up in warehouses; it was being consumed...
...World War II prices as a whole have not run away. The Bureau of Labor Statistics index for 28 basic commodities was last week only 106.8, less than seven points above pre-war August 1939, and well down from last September's peak of 127.2. Meanwhile the price index of finished manufactured goods held practically level. The industrial raw materials index was 66.5 before the war, 72.3 in September, only 70.8 three weeks ago. Hence most businessmen do not yet fear runaway prices. Actually, they are more alarmed by the idea of price-fixing by the New Deal...
...first five months of 1940 the Federal Reserve Board Production Index...
...seemed likely to forestall a fresh panic with each German victory, although the national defense program-for the first time of mass-production proportions-seemed to promise a capital goods boom. New Deal economists in Washington calculated that 1940-41 national defense spending should boost the Federal Reserve Production Index as high as 145, from its present...
...third time since the turn of the century, set Saturday's close as the floor under which no trading would be permitted. Chicago complied by pegging the price, Kansas City and others followed suit. Another casualty was cotton: July futures down 10% to 9.11?. Moody's Index of 15 spot prices fell 7.1% during the week, the sharpest percentage decline in its history. Evidently manufacturers of consumer goods, who buy their raw materials in these exchanges, feared that a long trend against them...