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Business Week Index

BusinessWeek Index

The production index dipped during the week ended May 3. Before calculation ofthe four-week moving average, the index fell by a steeper 0.5%, to 121.8 from122.4. In the latest week, the seasonal adjusted output levels of autos andtrucks were down sharply because of the strike at Chrysler Corp. Steel and coalproduction were up strongly and rail-freight traffic also increased. For themonth of April, the index rose to 122.4, up from 122.2 in March.BW production index copyright 1997 Bloomberg L.P.PRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STEEL (5/10)

thous. of net tons 2,094 2,112# 6.0

AUTOS (5/10) units 127,097 129,782r# -12.4

TRUCKS (5/10) units 113,644 113,726r# -10.5

ELECTRIC POWER (5/10)

millions of kilowatt-hrs. 56,659 56,016# -4.0

CRUDE-OIL REFINING (5/10)

thous. of bbl./day 14,743 14,409# 5.0

COAL (5/3)

thous. of net tons 21,110# 20,481 3.1

LUMBER (5/3)

millions of ft. 498.4# 515.3 10.5

RAIL FREIGHT (5/3)

billions of ton-miles 26.2# 26.4 -1.9

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 (5/9) S&P 500 824.78 812.97 26.5

CORPORATE BOND YIELD,

Aaa (5/9) 7.56% 7.64% -2.1

INDUSTRIAL MATERIALS PRICES (5/9) 105.8 104.7 -4.4

BUSINESS FAILURES (5/2) NA NA NA

REAL ESTATE LOANS (4/30) billions NA NA NA

MONEY SUPPLY, M2 (4/28) billions $3,906.0 $3,916.4r 5.1

INITIAL CLAIMS, UNEMPLOYMENT

(5/3) thous. 347 347 1.2

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 (5/14) $/troy oz. 349.100 341.100 -11.0

STEEL SCRAP (5/13)

#1 heavy, $/ton 138.50 133.50 -2.8

COPPER (5/9) cents/lb. 113.1 114.5 -14.1

ALUMINUM (5/9) cents/lb. 78.8 78.5 2.3

COTTON (5/10) strict low middling

1-1/16 in., cents/lb. 68.82 69.54 -19.3

OIL (5/13) $/bbl. 20.92 19.35 -1.4

CRB FOODSTUFFS (5/13) 1967=100 239.30 235.90 -9.9

CRB RAW INDUSTRIALS (5/13)

1967=100 338.41 332.97 -0.2

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 (5/14) 118.45 124.97 106.74

GERMAN MARK (5/14) 1.70 1.72 1.53

BRITISH POUND (5/14) 1.64 1.64 1.51

FRENCH FRANC (5/14) 5.72 5.81 5.19

ITALIAN LIRA (5/14) 1674.0 1703.0 1554.0

CANADIAN DOLLAR (5/14) 1.39 1.38 1.37

MEXICAN PESO (5/14)3 7.892 7.921 7.425

TRADE-WEIGHTED DOLLAR INDEX (5/14) 103.9 106.0 97.3

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 (5/13) 5.42% 5.50% 5.25%

COMMERCIAL PAPER (5/14) 3-month 5.69 5.70 5.38

CERTIFICATES OF DEPOSIT (5/14)

3-month 5.70 5.71 5.35

FIXED MORTGAGE (5/9) 30-year 8.08 8.20 8.44

ADJUSTABLE MORTGAGE (5/9) one-year 6.04 6.10 5.92

PRIME (5/9) 8.50 8.50 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. 3=Free market value NA=Not available r=revised NM=Not

meaningful

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