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Business Week Index

BusinessWeek Index

PRODUCTION INDEXThe production index fell in the week ended Oct. 25. The unaveraged indexdropped to 125.5, from 126.8 a week ago. Seasonally adjusted output of allcomponents was down. Electricity fell 2.5% with the largest decreases in theNew England and Pacific Northwest regions. Truck output was down 1.2%, as WardsAutomotive Reports announced that tougher emissions regulations are coming forthe U.S. truck industry. Rail-freight traffic was down 0.7% with largedecreases in carloads of grain and farm products.BW production index copyright 1997 Bloomberg L.P.PRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STEEL (11/1) thous. of net tons 2,159 2,127 # 11.1

AUTOS (11/1) units 128,176 127,319 r# 16.5

TRUCKS (11/1) units 146,602 141,954 r# 31.4

ELECTRIC POWER (11/1)

millions of kilowatt-hrs. 60,971 59,922 # 1.5

CRUDE-OIL REFINING (11/1)

thous. of bbl./day 14,737 14,661 # 2.9

COAL (10/25) thous. of net tons 21,157 # 21,298 5.3

LUMBER (10/25) millions of ft. 447.1 # 446.7 -8.4

RAIL FREIGHT (10/25) billions of ton-miles 27.8 # 27.5 0.0

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 (10/31) S&P 500 914.62 941.64 30.0

CORPORATE BOND YIELD, Aaa (10/31) 6.93 % 7.05 % -4.8

INDUSTRIAL MATERIALS PRICES (10/31) 105.3 104.9 0.2

BUSINESS FAILURES (10/24) NA NA NA

REAL ESTATE LOANS (10/22) billions NA NA NA

MONEY SUPPLY, M2 (10/20) billions $3,980.8 $3,966.9 r 5.1

INITIAL CLAIMS, UNEMPLOYMENT (10/25) thous. 297 313 r -13.2

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

Federal Reserve, Labor Dept.

PRICES

LATEST WEEK YEARLY

WEEK AGO % CHG

GOLD (11/5) $/troy oz. 313.500 313.500 -17.1

STEEL SCRAP (11/4) #1 heavy, $/ton 139.50 139.50 10.3

COPPER (10/31) cents/lb. 93.8 96.9 -4.7

ALUMINUM (10/31) cents/lb. 76.0 76.3 12.1

COTTON (10/31) strict

low middling 1-1/16 in., cents/lb. 69.55 69.58 -1.4

OIL (11/4) $/bbl. 20.61 20.39 -9.0

CRB FOODSTUFFS (11/4) 1967=100 251.47 257.20 7.9

CRB RAW INDUSTRIALS (11/4) 1967=100 331.86 331.82 1.1

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 (11/5) 123.22 120.84 113.99

GERMAN MARK (11/5) 1.72 1.73 1.52

BRITISH POUND (11/5) 1.68 1.67 1.64

FRENCH FRANC (11/5) 5.77 5.81 5.13

ITALIAN LIRA (11/5) 1686.5 1701.5 1524.2

CANADIAN DOLLAR (11/5) 1.40 1.40 1.33

MEXICAN PESO (11/5)3 8.200 8.170 7.905

TRADE-WEIGHTED DOLLAR INDEX (11/5) 105.6 105.3 97.9

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 (11/4) 5.54 % 5.49 % 5.34 %

COMMERCIAL PAPER (11/4) 3-month 5.57 5.58 5.41

CERTIFICATES OF DEPOSIT (11/5) 3-month 5.69 5.67 5.38

FIXED MORTGAGE (10/31) 30-year 7.36 7.51 7.96

ADJUSTABLE MORTGAGE (10/31) one-year 5.63 5.70 5.80

PRIME (10/31) 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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