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Business Week Index

BusinessWeek Index

PRODUCTION INDEXThe production index continued to move up in the week ended Oct. 11. Theunaveraged index also increased 0.8% to 128.1, from 127.1. After seasonaladjustment, steel, oil, and electric power posted strong increases, while coaland rail-freight traffic made only fractional gains. Lumber output declined.Auto production rose only 0.1%, and truck output fell, as Ward Communicationsreported that only luxury cars gained market share in the just-ended 1997 modelyear.BW production index copyright 1997 Bloomberg L.P.PRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STEEL (10/18) thous. of net tons 2,164 2,178 # 12.1

AUTOS (10/18) units 128,819 124,150 r# 2.5

TRUCKS (10/18) units 145,169 134,033 r# 17.3

ELECTRIC POWER (10/18)

millions of kilowatt-hrs. 60,550 64,585 # 2.8

CRUDE-OIL REFINING (10/18)

thous. of bbl./day 14,855 15,180 # 5.0

COAL (10/11) thous. of net tons 21,344 # 21,253 2.7

LUMBER (10/11) millions of ft. 470.8 # 476.6 0.1

RAIL FREIGHT (10/11)

billions of ton-miles 28.1 # 28.0 1.1

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 (10/17) S&P 500 944.16 966.98 32.8

CORPORATE BOND YIELD, Aaa (10/17) 7.05 % 7.00 % -4.7

INDUSTRIAL MATERIALS PRICES (10/17) 104.8 105.1 -1.9

BUSINESS FAILURES (10/10) NA NA NA

REAL ESTATE LOANS (10/8) billions NA NA NA

MONEY SUPPLY, M2 (10/6) billions $4,005.8 $3,996.3 r 6.0

INITIAL CLAIMS, UNEMPLOYMENT (10/11) thous. 306 304 -10.5

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

Federal Reserve, Labor Dept.

PRICES

LATEST WEEK YEARLY

WEEK AGO % CHG

GOLD (10/22) $/troy oz. 322.450 326.500 -15.9

STEEL SCRAP (10/21) #1 heavy, $/ton 139.50 139.50 10.3

COPPER (10/17) cents/lb. 97.9 96.8 2.5

ALUMINUM (10/17) cents/lb. 78.0 78.5 21.9

COTTON (10/18) strict

low middling 1-1/16 in., cents/lb. 69.42 69.32 -2.9

OIL (10/21) $/bbl. 20.57 20.63 -20.3

CRB FOODSTUFFS (10/21) 1967=100 247.63 242.73 0.9

CRB RAW INDUSTRIALS (10/21) 1967=100 333.13 334.79 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 (10/22) 120.72 121.22 112.70

GERMAN MARK (10/22) 1.78 1.75 1.52

BRITISH POUND (10/22) 1.63 1.62 1.60

FRENCH FRANC (10/22) 5.98 5.86 5.14

ITALIAN LIRA (10/22) 1740.5 1709.0 1524.9

CANADIAN DOLLAR (10/22) 1.39 1.39 1.34

MEXICAN PESO (10/22)3 7.716 7.732 7.840

TRADE-WEIGHTED DOLLAR INDEX (10/22) 106.3 105.7 98.1

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 (10/21) 5.53 % 5.61 % 5.19 %

COMMERCIAL PAPER (10/21) 3-month 5.59 5.53 5.42

CERTIFICATES OF DEPOSIT (10/22) 3-month 5.69 5.65 5.41

FIXED MORTGAGE (10/17) 30-year 7.48 7.46 8.09

ADJUSTABLE MORTGAGE (10/17) one-year 5.67 5.73 5.88

PRIME (10/17) 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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