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BUSINESS WEEK INDEX
PRODUCTION INDEX
The production index edged higher during the week ended Dec. 28. However,
before calculation of the four-week moving average, the index dropped to 134.6,
from a revised 136. Auto and truck plants were closed for the week in
observance of Christmas, but electric power output rose in the latest week. For
the month of December, the index increased to 135, from 132.9.
The leading index will be unavailable for an indefinite period of time.
BW production index copyright 1997 by The McGraw-Hill Companies
PRODUCTION INDICATORS
LATEST WEEK YEARLY
WEEK AGO% CHG
STEEL (1/4) thous. of net tons 1,999 1,998# 5.5
AUTOS (1/4) units 50,604 390r# -36.1
TRUCKS (1/4) units 51,572 401r# -32.6
ELECTRIC POWER (1/4) millions of NA 60,151# NA
kilowatt-hrs.
CRUDE-OIL REFINING (1/4) thous. of 14,083 14,089# 0.7
bbl./day
COAL (12/28) thous. of net tons 15,424# 21,239 1.1
LUMBER (12/28) millions of ft. 263.5# 464.6 23.2
RAIL FREIGHT (12/28) billions of ton-miles 18.0# 25.6 -2.2
Sources: American Iron & Steel Institute, Ward's Automotive Reports, Edison
Electric Institute, American Petroleum Institute, Energy Dept., WWPA1, SFPA2,
Association of American Railroads
LEADING INDICATORS
LATEST WEEK YEARLY
WEEK AGO% CHG
STOCK PRICES (1/3) S&P 500 748.03 756.79 20.8
CORPORATE BOND YIELD, Aaa (1/3) 7.29% 7.22%r 8.0
INDUSTRIAL MATERIALS PRICES (1/3) 107.6 107.1 -3.4
BUSINESS FAILURES (12/27) NA NA NA
REAL ESTATE LOANS (12/25) billions NA NA NA
MONEY SUPPLY, M2 (12/23) billions $3,831.0 $3,822.6 4.6
INITIAL CLAIMS, UNEMPLOYMENT (12/28) thous. 366 344r 0.0
Sources: Standard & Poor's, Moody's, Journal of Commerce (index: 1990=100), Dun
& Bradstreet (failures of large companies), Federal Reserve, Labor Dept.
PRICES
LATEST WEEK YEARLY
WEEK AGO% CHG
GOLD (1/8) $/troy oz. 356.600 369.250 -10.8
STEEL SCRAP (1/3) #1 heavy, $/ton 116.50 116.50 -16.5
COPPER (1/3) cents/lb. 106.6 105.1 -15.5
ALUMINUM (1/3) cents/lb. 73.5 74.0 -7.3
COTTON (1/4) strict low middling 71.12 72.05r -11.6
1-1/16 in., cents/lb.
OIL (1/7) $/bbl. 26.19 25.19 31.3
CRB FOODSTUFFS (1/7) 1967=100 231.26 233.22 -1.1
CRB RAW INDUSTRIALS (1/7) 1967=100 335.77 335.32 0.9
Sources: London Wednesday final setting, Chicago market, Metals Week, Memphis
market, NYMEX, Commodity Research Bureau
FOREIGN EXCHANGE
LATEST WEEK YEAR
WEEK AGO AGO
JAPANESE YEN (1/8) 115.91 115.85 105.22
GERMAN MARK (1/8) 1.58 1.56 1.44
BRITISH POUND (1/8) 1.69 1.69 1.54
FRENCH FRANC (1/8) 5.32 5.25 4.95
ITALIAN LIRA (1/8) 1542.7 1531.5 1579.6
CANADIAN DOLLAR (1/8) 1.35 1.37 1.36
MEXICAN PESO (1/8)*** 7.812 7.853 7.520
TRADE-WEIGHTED DOLLAR INDEX (1/8) 99.8 99.7 95.7
Sources: Major New York banks. Currencies expressed in units per U.S. dollar,
except for British pound in dollars. Trade-weighted dollar via J.P. Morgan.
INTEREST RATES
LATEST WEEK YEAR
WEEK AGO AGO
FEDERAL FUNDS (1/7) 5.20% 4.77% 5.53%
COMMERCIAL PAPER (1/8) 3-month 5.45 5.65 5.45
CERTIFICATES OF DEPOSIT (1/8) 3-month 5.41 5.51 5.45
FIXED MORTGAGE (1/3) 30-year 7.68 7.85 7.30
ADJUSTABLE MORTGAGE (1/3) one-year 5.76 5.73 5.56
PRIME (1/7) 8.25 8.25 8.50
Sources: Federal Reserve, HSH Associates, Bloomberg Financial Markets
#Raw data in the production indicators are seasonally adjusted in computing the
BW index (chart); other components (estimated and not listed) include machinery
and defense equipment. 1=Western Wood Products Assn. 2=Southern Forest
Products Assn. ***=Free market value NA=Not available r=revised NM=Not
meaningful
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Updated June 15, 1997 by bwwebmaster
Copyright 1997, by The McGraw-Hill Companies Inc. All rights reserved.
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