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Business Week Index


Business Week Index

BusinessWeek Index

The production index declined in the week ended May 10. After seasonaladjustment, auto and truck output fell, reflecting continued strike activity,but output should rebound in coming weeks. Electric-power output also dropped,in addition to production of steel and coal. Rail-freight traffic edged lower.The gainers in the week were crude-oil refining and lumber production. Beforecalculation of the four-week average, the index fell to 120.6.BW production index copyright 1997 Bloomberg L.P.PRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STEEL (5/17) thous. of net tons 2,058 2,094# 3.6

AUTOS (5/17) units 133,664 124,354r# -11.6

TRUCKS (5/17) units 131,157 112,044r# 1.8

ELECTRIC POWER (5/17) millions of kilowatt-hrs. 57,177 56,659# -4.3

CRUDE-OIL REFINING (5/17) thous. of bbl./day 14,819 14,743# 5.5

COAL (5/10) thous. of net tons 20,588# 21,110 3.9

LUMBER (5/10) millions of ft. 502.9# 498.4 10.6

RAIL FREIGHT (5/10) billions of ton-miles 26.1# 26.2 0.8

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 (5/16) S&P 500 829.75 824.78 24.0

CORPORATE BOND YIELD, Aaa (5/16) 7.55% 7.56% -0.3

INDUSTRIAL MATERIALS PRICES (5/16) 106.4 105.8 -3.3

BUSINESS FAILURES (5/9) NA NA NA

REAL ESTATE LOANS (5/7) billions NA NA NA

MONEY SUPPLY, M2 (5/5) billions $3,894.4 $3,907.0r 4.7

INITIAL CLAIMS, UNEMPLOYMENT (5/10) thous. 319 350 -9.6

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 (5/21) $/troy oz. 342.700 349.100 -12.3

STEEL SCRAP (5/20) #1 heavy, $/ton 138.50 138.50 -2.8

COPPER (5/16) cents/lb. 116.7 113.1 -10.6

ALUMINUM (5/16) cents/lb. 79.8 78.8 4.3

COTTON (5/17) strict low middling 69.63 68.82 -15.7

1-1/16 in., cents/lb.

OIL (5/20) $/bbl. 20.77 20.92 -7.6

CRB FOODSTUFFS (5/20) 1967=100 237.36 239.30 -12.5

CRB RAW INDUSTRIALS (5/20) 1967=100 339.76 338.41 -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 (5/21) 113.72 118.45 106.98

GERMAN MARK (5/21) 1.69 1.70 1.54

BRITISH POUND (5/21) 1.65 1.64 1.51

FRENCH FRANC (5/21) 5.70 5.72 5.22

ITALIAN LIRA (5/21) 1666.5 1674.0 1560.7

CANADIAN DOLLAR (5/21) 1.37 1.39 1.38

MEXICAN PESO (5/21)3 7.861 7.892 7.390

TRADE-WEIGHTED DOLLAR INDEX (5/21) 102.2 103.9 98.0

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 (5/20) 5.51% 5.42% 5.23%

COMMERCIAL PAPER (5/21) 3-month 5.69 5.69 5.37

CERTIFICATES OF DEPOSIT (5/21) 3-month 5.68 5.70 5.35

FIXED MORTGAGE (5/16) 30-year 8.08 8.08 8.27

ADJUSTABLE MORTGAGE (5/16) one-year 6.08 6.04 5.97

PRIME (5/16) 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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