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Business Week Index

BusinessWeek Index

PRODUCTION INDEXThe production index edged down slightly during the week ended Sept. 7. It wasthe third consecutive decline. However, before calculation of the four-weekmoving average, the index increased to 134, from 132.7. Seasonally adjustedoutput of autos, trucks, and electric power increased strongly, offsettingdrops in lumber output and rail-freight traffic.The leading index will be unavailable for an indefinite period of time.BW production index copyright 1996 Bloomberg L.P.PRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STEEL (9/14) thous. of net tons 1,987 1,984# 1.0

AUTOS (9/14) units 129,848 106,377r# 3.8

TRUCKS (9/14) units 122,476 98,539r# -2.3

ELECTRIC POWER (9/14) millions of kilowatt-hrs.67,649 68,437# 5.4

CRUDE-OIL REFINING (9/14) thous. of bbl./day 14,490 14,415# -0.3

COAL (9/7) thous. of net tons 21,309# 22,045 7.4

LUMBER (9/7) millions of ft. 405.9# 507.1 4.1

RAIL FREIGHT (9/7) billions of ton-miles 24.0# 26.7 -1.6

Sources: American Iron & Steel Institute, Ward's Automotive Reports, Edison

Electric Institute, American Petroleum Institute, Energy Dept., American Forest

& Paper Association, WWPA*, SFPA**, Association of American Railroads

LEADING INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STOCK PRICES (9/13) S&P 500 680.54 655.68 17.5

CORPORATE BOND YIELD, Aaa (9/13) 7.87% 7.91% 6.2

INDUSTRIAL MATERIALS PRICES (9/13) 110.3 110.7 -2.4

BUSINESS FAILURES (9/6) NA NA NA

REAL ESTATE LOANS (9/4) billions $525.9 $523.4r 6.0

MONEY SUPPLY, M2 (9/2) billions NA NA NA

INITIAL CLAIMS, UNEMPLOYMENT (9/7) thous. 338 317r -7.9

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 (9/18) $/troy oz. 383.000 383.500 -0.5

STEEL SCRAP (9/17) #1 heavy, $/ton 136.50 136.50 -4.9

COPPER (9/13) cents/lb. 92.3 96.4 -30.9

ALUMINUM (9/13) cents/lb. 68.0 70.5 -17.1

COTTON (9/14) strict low

middling 1-1/16 in., cents/lb. 75.46 76.21 -16.2

OIL (9/17) $/bbl. 23.53 24.19r 23.8

CRB FOODSTUFFS INDEX (9/17)

1967=100 265.05 269.07 10.8

CRB RAW INDUSTRIALS

INDEX (9/17) 1967=100 342.77 346.47 3.2

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 (9/18) 109.09 110.24 99.83

GERMAN MARK (9/18) 1.51 1.51 1.43

BRITISH POUND (9/18) 1.56 1.55 1.58

FRENCH FRANC (9/18) 5.14 5.15 4.94

ITALIAN LIRA (9/18) 1523.5 1524.0 1608.0

CANADIAN DOLLAR (9/18) 1.37 1.37 1.35

MEXICAN PESO (9/18)*** 7.483 7.547 6.320

Sources: Major New York banks. Currencies expressed in units per U.S. dollar,

except for British pound in dollars

INTEREST RATES

LATEST WEEK YEAR

WEEK AGO AGO

FEDERAL FUNDS (9/17) 5.02% 5.10% 5.78%

COMMERCIAL PAPER (9/18) 3-month 5.52 5.53 5.70

CERTIFICATES OF DEPOSIT (9/18)

3-month 5.53 5.53 5.70

FIXED MORTGAGE (9/13) 30-year 8.46 8.53 7.81

ADJUSTABLE MORTGAGE (9/13)

one-year 6.14 6.09 5.90

PRIME (9/17) 8.25 8.25 8.75

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. *=Western Wood Products Assn. **=Southern Forest

Products Assn. ***=Free market value NA=Not available r=revised NM=Not

meaningful

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