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Business Week Index


Business Week Index

BusinessWeek Index

PRODUCTION INDEXThe production index increased modestly during the week ended July 12. Beforecalculation of the four-week moving average, the index rose to 124.7, from123.5. In the latest week, advances in the seasonally adjusted output levels ofcoal and lumber as well as rail-freight traffic offset declines in steel,electric-power, and crude-oil refining production. Auto and truck productionwere skewed by plant closings for model changeovers and some strike activity.BW production index copyright 1997 Bloomberg L.P.PRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STEEL (7/19) thous. of net tons 2,046 2,056# 5.5

AUTOS (7/19) units 113,360 34,982r# -0.8

TRUCKS (7/19) units 96,933 13,567r# 4.6

ELECTRIC POWER (7/19) millions of kilowatt-hrs. 77,484 69,507# 5.2

CRUDE-OIL REFINING (7/19) thous. of bbl./day 14,919 14,914# 5.5

COAL (7/12) thous. of net tons 19,420# 17,531 1.8

LUMBER (7/12) millions of ft. 480.2# 349.7 5.0

RAIL FREIGHT (7/12) billions of ton-miles 24.9# 22.1 -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 (7/18) S&P 500 915.30 913.68 43.3

CORPORATE BOND YIELD, Aaa (7/18) 7.15% 7.19% -6.0

INDUSTRIAL MATERIALS PRICES (7/18) 105.6 105.5 -0.7

BUSINESS FAILURES (7/11) NA NA NA

REAL ESTATE LOANS (7/9) billions NA NA NA

MONEY SUPPLY, M2 (7/7) billions $3,935.8 $3,926.7r 5.0

INITIAL CLAIMS, UNEMPLOYMENT (7/12) thous. 349 377 -4.1

Sources: Standard & Poor's, Moody's, Journal of Commerce (index: 1990=100),

Federal Reserve, Labor Dept.

PRICES

LATEST WEEK YEARLY

WEEK AGO % CHG

GOLD (7/23) $/troy oz. 324.900 319.500 -15.5

STEEL SCRAP (7/22) #1 heavy, $/ton 134.50 143.50 0.7

COPPER (7/18) cents/lb. 112.1 111.1 22.8

ALUMINUM (7/18) cents/lb. 75.0 75.0 9.5

COTTON (7/19) strict low

middling 1-1/16 in., cents/lb. 71.67 70.86 -7.6

OIL (7/22) $/bbl. 18.76 19.43 -13.4

CRB FOODSTUFFS (7/22) 1967=100 238.67 239.60 -12.4

CRB RAW INDUSTRIALS (7/22) 1967=100 332.72 332.75 -0.3

Sources: London Wednesday final setting, Chicago market, Metals Week, Memphis

market, NYMEX, Commodity Research Bureau

INTEREST RATES

LATEST WEEK YEAR

WEEK AGO AGO

FEDERAL FUNDS (7/22) 5.44% 5.47% 5.25%

COMMERCIAL PAPER (7/23) 3-month 5.54 5.57 5.50

CERTIFICATES OF DEPOSIT (7/23) 3-month 5.57 5.60 5.51

FIXED MORTGAGE (7/18) 30-year 7.65 7.67 8.44

ADJUSTABLE MORTGAGE (7/18) one-year 5.81 5.78 6.21

PRIME (7/18) 8.50 8.50 8.25

Sources: Federal Reserve, HSH Associates, Bloomberg Financial Markets

FOREIGN EXCHANGE

LATEST WEEK YEAR

WEEK AGO AGO

JAPANESE YEN (7/23) 115.76 116.10 107.93

GERMAN MARK (7/23) 1.82 1.80 1.49

BRITISH POUND (7/23) 1.68 1.67 1.55

FRENCH FRANC (7/23) 6.14 6.07 5.03

ITALIAN LIRA (7/23) 1773.0 1745.8 1516.0

CANADIAN DOLLAR (7/23) 1.38 1.37 1.37

MEXICAN PESO (7/23)3 7.834 7.916 7.608

TRADE-WEIGHTED DOLLAR INDEX (7/23) 105.3 104.9 97.2

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.

#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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