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Business trends; 12-month moving averages of leading business indicators.


Index of industrial production

The moving average now stands lower than one year ago, erasing all of 1990's production gains.

Percent change in demand and savings deposits Savings deposits

Accounts that pay interest, typically at below-market interest rates, that do not have a specific maturity, and that usually can be withdrawn upon demand.
 [M.sup.2]

Active intervention by the Fed in February helped on halt the slowdown For articles with similar titles, see Slow Down (disambiguation).
A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties.
 in demand and savings deposits.

Prime six-month commercial paper-discount rate

On a moving average basis, rates have now dropped over 1 percentage point since February, 1990.

Bank real estate loans (in billions of dollars)

Another spurt spurt Vox populi A surge or abrupt ↑ in the size or speed of a thing. See Fat spurt, Growth spurt.  in growth followed an easing of mortgage rates.

Civilian employment (in millions of workers employed)

Growth in service-producing jobs has come to a halt, but goods producing jobs continue to dwindle dwin·dle  
v. dwin·dled, dwin·dling, dwin·dles

v.intr.
To become gradually less until little remains.

v.tr.
To cause to dwindle. See Synonyms at decrease.
.
COPYRIGHT 1991 American Institute of CPA's
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Article Details
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Publication:Journal of Accountancy
Article Type:illustration
Date:Aug 1, 1991
Words:109
Previous Article:Proposals to revise and delay statement no. 96 and to clarify offsetting.
Next Article:PCPS survey finds optimistic tone at small companies. (American Institute of Certified Public Accountants Private Companies Practice Section)
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