Suppose the following year there was 0% inflation and our index therefore remains at 120.

The index lost more than 200 points in the first half-hour of trading and remained depressed all day.

In Madrid, trading was also very thin and the index remained at 330.9 points.

And the leading index remains well above its pre-recession peak.

Still, the index remains about 1,300 points, or 14 percent, below its July 17 peak of 9,337.97.

Other major indexes, while moving higher, remained below their recent highs.

The index remains far below its March 10 record of 5,048.62.

The index also remained below 50 percent in the first three months of this year.

The index of economic activity has remained below 50 percent since July.

Those two indexes remained above their April 14 closing levels.