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Business Week Index

BusinessWeek Index

PRODUCTION INDEXThe production index continued to fall through the week ended Oct. 12. Beforecalculation of the four-week moving average, however, the index increasedmodestly, rising to 132.8 from 132.2. In the latest week, increases in theseasonally adjusted output of autos, steel, and electric power offset declinesin truck and coal production as well as 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 (10/19) thous. of net tons 1,892 2,029# 3.0

AUTOS (10/19) units 130,724 129,663r# -2.8

TRUCKS (10/19) units 124,134 121,574r# -1.1

ELECTRIC POWER (10/19) millions of

kilowatt-hrs. 58,896 59,063# 3.2

CRUDE-OIL REFINING (10/19)

thous. of bbl./day 14,141 14,100# 4.0

COAL (10/12) thous. of net tons 21,675# 22,604 4.8

LUMBER (10/12) millions of ft. 470.1# 483.0 1.2

RAIL FREIGHT (10/12) billions of ton-miles 26.6# 26.6 1.1

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 (10/18) S&P 500 710.82 700.66 21.1

CORPORATE BOND YIELD, Aaa (10/18) 7.59% 7.61% 5.1

INDUSTRIAL MATERIALS PRICES (10/18) 106.9 107.8 -3.3

BUSINESS FAILURES (10/11) NA NA NA

REAL ESTATE LOANS (10/9) billions NA NA NA

MONEY SUPPLY, M2 (10/7) billions $3,768.5 $3,758.3 3.7

INITIAL CLAIMS, UNEMPLOYMENT (10/12) thous. 340 322r -6.6

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 (10/23) $/troy oz. 383.500 381.500 0.4

STEEL SCRAP (10/22) #1 heavy,

$/ton 126.50 133.50 -10.0

COPPER (10/18) cents/lb. 95.5 95.5 -26.2

ALUMINUM (10/18) cents/lb. 64.0 63.5 -16.9

COTTON (10/19) strict low

middling 1-1/16 in., cents/lb. 71.53 73.87 -14.0

OIL (10/22) $/bbl. 25.80 25.47r 46.8

CRB FOODSTUFFS INDEX (10/22)

1967=100 245.35 254.82 0.6

CRB RAW INDUSTRIALS INDEX

(10/22) 1967=100 330.55 336.66 -0.5

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 (10/23) 112.70 112.13 101.30

GERMAN MARK (10/23) 1.52 1.54 1.39

BRITISH POUND (10/23) 1.60 1.58 1.58

FRENCH FRANC (10/23) 5.14 5.20 4.88

ITALIAN LIRA (10/23) 1524.9 1536.5 1591.8

CANADIAN DOLLAR (10/23) 1.34 1.36 1.37

MEXICAN PESO (10/23)*** 7.840 7.785 7.240

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 (10/22) 5.19% 5.41% 5.76%

COMMERCIAL PAPER (10/23) 3-month 5.42 5.42 5.82

CERTIFICATES OF DEPOSIT (10/23)

3-month 5.41 5.40 5.79

FIXED MORTGAGE (10/18) 30-year 8.09 8.09 7.69

ADJUSTABLE MORTGAGE (10/18)

one-year 5.88 5.92 5.85

PRIME (10/22) 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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