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Business Week Index


Business Week Index

BusinessWeek Index

The production index slipped slightly during the week ended May 24. But beforecalculation of the four-week moving average, the index jumped up to 121.9, from120.6 in the previous week. The latest increase reflected a gain in theseasonally adjusted output of steel, trucks, autos, and electric power as wellas rail-freight traffic. Coal output was down slightly. The sharp advance inthe latest week suggests that the production index may be coming out of itsrecent slump.BW production index copyright 1997 Bloomberg L.P.PRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO% CHG

STEEL (5/31) thous. of net tons 2,138 2,154# 6.4

AUTOS (5/31) units 102,817 124,854 r# -2.2

TRUCKS (5/31) units 104,207 127,108 r# 20.3

ELECTRIC POWER (5/31) millions of

kilowatt-hrs. NA 58,640# NA

CRUDE-OIL REFINING (5/31) thous. of

bbl./day 15,209 14,928# 5.1

COAL (5/24) thous. of net tons 21,362# 21,199 7.7

LUMBER (5/24) millions of ft. 500.5# 502.0 9.9

RAIL FREIGHT (5/24) billions of

ton-miles 26.8# 26.3 2.3

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 (5/30) S&P 500 848.28 847.03 26.8

CORPORATE BOND YIELD, Aaa (5/30) 7.64% 7.60% 0.4

INDUSTRIAL MATERIALS PRICES (5/30) 106.7 106.3 -1.6

BUSINESS FAILURES (5/23) NA NA NA

REAL ESTATE LOANS (5/21) billions NA NA NA

MONEY SUPPLY, M2 (5/19) billions $3,901.1 $3,892.6r 4.7

INITIAL CLAIMS, UNEMPLOYMENT (5/24)

thous. 322 322 -4.9

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 (6/4) $/troy oz. 341.750 342.800 -11.8

STEEL SCRAP (6/3)#1 heavy, $/ton 134.50 134.50 -4.9

COPPER (5/30) cents/lb. 120.4 119.9 -1.7

ALUMINUM (5/30) cents/lb. 78.8 79.8 6.8

COTTON (5/31) strict low middling

1-1/16 in., cents/lb. 69.76 69.46 -14.1

OIL (6/3) $/bbl. 19.96 20.46 -1.9

CRB FOODSTUFFS (6/3) 1967=100 241.49 237.50 -9.5

CRB RAW INDUSTRIALS (6/3) 1967=100 338.12 337.98 0.8

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 (6/4) 116.30 115.80 108.77

GERMAN MARK (6/4) 1.73 1.70 1.53

BRITISH POUND (6/4) 1.63 1.64 1.55

FRENCH FRANC (6/4) 5.84 5.76 5.18

ITALIAN LIRA (6/4) 1699.0 1690.0 1544.6

CANADIAN DOLLAR (6/4) 1.38 1.38 1.37

MEXICAN PESO (6/4)3 7.919 7.904 7.485

TRADE-WEIGHTED DOLLAR INDEX (6/4) 103.9 103.1 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 (6/3) 5.42% 5.59% 5.23%

COMMERCIAL PAPER (6/4) 3-month 5.67 5.67 5.42

CERTIFICATES OF DEPOSIT (6/4) 3-month 5.67 5.69 5.40

FIXED MORTGAGE (5/30) 30-year 8.12 8.08 8.31

ADJUSTABLE MORTGAGE (5/30) one-year 6.06 6.01 5.96

PRIME (5/30) 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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