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Business Week Index


Business Week Index

BusinessWeek Index

The production index held steady during the week ended Mar. 1. Beforecalculation of the four-week moving average, the index dropped to 135.4 from136.7 in the previous week. In the latest week, the seasonally adjusted levelsof auto and truck production fell, as did rail-freight traffic and crude-oilrefining. Output of both coal and lumber also declined. Steel production rose,as did electric power output. For February, the index dipped to 135.8 from136.2 in January, mainly reflecting unseasonably warm weather, which depressedelectric power output.BW production index copyright 1997 Bloomberg L.P.PRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO% CHG

STEEL (3/8) thous. of net tons 2,138 2,115# 2.0

AUTOS (3/8) units 129,919 134,799 r# 12.7

TRUCKS (3/8) units 139,114 138,740 r# 8.7

ELECTRIC POWER (3/8) millions of

kilowatt-hrs. 60,388 61,225# -2.7

CRUDE-OIL REFINING (3/8) thous. of

bbl./day 13,578 13,391# -0.5

COAL (3/1) thous. of net tons 21,245# 21,269 -0.7

LUMBER (3/1) millions of ft. 482.1# 498.8 9.5

RAIL FREIGHT (3/1) billions of ton-miles 27.6# 27.2 0.7

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 (3/7) S&P 500 804.97 790.82 24.0

CORPORATE BOND YIELD, Aaa (3/7) 7.47% 7.38% 3.6

INDUSTRIAL MATERIALS PRICES (3/7) 108.2 108.4 -0.3

BUSINESS FAILURES (2/28) NA NA NA

REAL ESTATE LOANS (2/26) billions NA NA NA

MONEY SUPPLY, M2 (2/24) billions $3,869.3 $3,868.2 r 4.7

INITIAL CLAIMS, UNEMPLOYMENT (3/1)

thous. 310 316 -14.4

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 (3/12) $/troy oz. 351.400 354.500 -11.4

STEEL SCRAP (3/7)#1 heavy, $/ton 139.50 146.00 0.4

COPPER (3/7) cents/lb. 118.5 117.0 -3.0

ALUMINUM (3/7) cents/lb. 81.5 79.3 8.2

COTTON (3/8) strict low middling 1-1/16

in., cents/lb. 71.65 71.38 -10.3

OIL (3/11) $/bbl. 19.75 20.28 -3.5

CRB FOODSTUFFS (3/11) 1967=100 247.61 244.39 6.7

CRB RAW INDUSTRIALS (3/11) 1967=100 341.60 344.31 3.3

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 (3/12) 122.43 121.43 105.34

GERMAN MARK (3/12) 1.70 1.71 1.47

BRITISH POUND (3/12) 1.60 1.61 1.52

FRENCH FRANC (3/12) 5.73 5.78 5.04

ITALIAN LIRA (3/12) 1693.0 1703.8 1564.8

CANADIAN DOLLAR (3/12 1.36 1.37 1.37

MEXICAN PESO (3/12)*** 7.975 8.040 7.590

TRADE-WEIGHTED DOLLAR INDEX (3/12) 104.8 104.8 96.62

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 (3/11) 5.21% 5.16% 5.25%

COMMERCIAL PAPER (3/12) 3-month 5.46 5.46 5.34

CERTIFICATES OF DEPOSIT (3/12) 3-month 5.44 5.43 5.30

FIXED MORTGAGE (3/7) 30-year 7.97 7.86 7.63

ADJUSTABLE MORTGAGE (3/7) one-year 5.78 5.73 5.48

PRIME (3/7) 8.25 8.25 8.25

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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