Business Week Index

BusinessWeek Index

PRODUCTION

Change from last week: -0.4%

Change from last year: 2.5%

The production index fell in the week ended July 16. After seasonal adjustment,

production of both autos and trucks declined sharply for the second consecutive

week. Output of electric power also dipped, as did production of steel, coal,

and lumber. Output of both paper and paperboard rose, along with crude-oil

refining. Rail freight traffic was unchanged. Before calculation of the

four-week average, the index declined to 194 from 196 in the previous week.

BW production index copyright 1994 Bloomberg L.P.

LEADING

Change from last week: 0.3%

Change from last year: 7.3%

The leading index gained ground in the week ended July 16. Materials prices

continued to grow at a faster rate, and the pace of real estate loans picked up

as well. Also on the plus side, stock prices rallied for the third week in a

row. The only negative indicator was slower growth in the M2 money supply. Bond

yields held steady, and data on business failures were unavailable. Before

calculation of the four-week average, the index rose to 241 from 239.4.

Leading index copyright 1994 by Center for International Business Cycle Research