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Business Week Index

BusinessWeek Index

PRODUCTION INDEXThe production index continued to climb in the week ended Dec. 6. Beforecalculation of the four-week moving average, the index fell 0.5%, to 127.7,from 128.3 a week ago. After seasonal adjustment, output of autos, trucks, andlumber were up. Rail-freight traffic increased 0.4%, with volume the highest ithas ever been. Electricity and oil production fell, as did coal because ofcontinued delivery problems on the Union and Southern Pacific rail lines.BW production index copyright 1997 Bloomberg L.P.ept for British pound in dollars. Trade-weighted dollar via J.P. Morgan.PRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STEEL (12/13) thous. of net tons 2,158 2,162 # 10.7

AUTOS (12/13) units 128,646 132,960 r# -5.3

TRUCKS (12/13) units 152,166 150,291 r# 9.3

ELECTRIC POWER (12/13)

millions of kilowatt-hrs. 67,586 62,978 # 6.8

CRUDE-OIL REFINING (12/13)

thous. of bbl./day 14,977 14,851 # 4.9

COAL (12/6) thous. of net tons 22,482 # 20,431 6.1

LUMBER (12/6) millions of ft. 456.0 # 282.3 -1.1

RAIL FREIGHT (12/6)

billions of ton-miles 28.7 # 24.1 3.6

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 (12/12) S&P 500 953.39 983.79 30.8

CORPORATE BOND YIELD, Aaa (12/12) 6.84 % 6.81 % -5.1

INDUSTRIAL MATERIALS PRICES (12/12) 96.9 100.4 -9.5

BUSINESS FAILURES (12/5) NA NA NA

REAL ESTATE LOANS (12/3) billions NA NA NA

MONEY SUPPLY, M2 (12/1) billions $4,015.6 $4,001.2 r 5.4

INITIAL CLAIMS, UNEMPLOYMENT (12/6) thous. 311 324 r -11.1

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

Federal Reserve, Labor Dept.

PRICES

LATEST WEEK YEARLY

WEEK AGO % CHG

GOLD (12/17) $/troy oz. 287.850 286.300 -21.9

STEEL SCRAP (12/16) #1 heavy, $/ton 143.50 131.50 23.2

COPPER (12/12) cents/lb. 73.8 84.1 -30.8

ALUMINUM (12/12) cents/lb. 76.3 77.3 6.0

COTTON (12/12) strict low

middling 1-1/16 in., cents/lb. 64.50 66.14 -11.0

OIL (12/16) $/bbl. 18.02 18.47 -29.6

CRB FOODSTUFFS (12/16) 1967=100 236.42 247.87 3.1

CRB RAW INDUSTRIALS (12/16) 1967=100 307.57 310.29 -7.1

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 (12/17) 126.83 128.90 113.68

GERMAN MARK (12/17) 1.77 1.78 1.55

BRITISH POUND (12/17) 1.65 1.65 1.67

FRENCH FRANC (12/17) 5.92 5.97 5.25

ITALIAN LIRA (12/17) 1734.5 1744.5 1528.8

CANADIAN DOLLAR (12/17) 1.42 1.42 1.37

MEXICAN PESO (12/17)3 8.105 8.139 7.838

TRADE-WEIGHTED DOLLAR INDEX (12/17) 108.4 109.4 99.1

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 (12/16) 5.56 % 5.29 % 5.38 %

COMMERCIAL PAPER (12/16) 3-month 5.70 5.73 5.52

CERTIFICATES OF DEPOSIT (12/17) 3-month 5.80 5.81 5.48

FIXED MORTGAGE (12/12) 30-year 7.35 7.35 7.84

ADJUSTABLE MORTGAGE (12/12) one-year 5.85 5.72 5.74

PRIME (12/12) 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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