Business Week Index

BusinessWeek Index

The production index rose during the week that ended Dec. 13. The unaveragedindex increased 1% to 129, from 127.7 a week ago. After seasonal adjustment,truck production was up 5.3%. The sizzling full-size truck market spurredGeneral Motors into producing its first all-new truck in a decade. Output ofautos, electricity, and lumber also increased. Crude oil and steel productionwas down, as was coal because of the shortage of railcars.BW production index copyright 1998 Bloomberg L.P.PRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STEEL (12/20) thous. of net tons 2,183 2,158# 9.6

AUTOS (12/20) units 130,420 131,709 r# 5.1

TRUCKS (12/20) units 144,734 153,604 r# 9.2

ELECTRIC POWER (12/20) millions of

kilowatt-hrs. 66,015 67,586# -1.2

CRUDE-OIL REFINING (12/20) thous. of

bbl./day 14,928 14,977# 5.1

COAL (12/13) thous. of net tons 21,832# 22,482 1.3

LUMBER (12/13) millions of ft. 471.6# 456.0 -1.4

RAIL FREIGHT (12/13) billions of

ton-miles 27.7# 28.7 -1.4

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 YEAR

WEEK AGO AGO

STOCK PRICES (12/19) S&P 500 946.78 953.39 26.4

CORPORATE BOND YIELD, Aaa (12/19) 6.74% 6.84% -7.4

INDUSTRIAL MATERIALS PRICES (12/19) 98.8 96.9 -7.4

BUSINESS FAILURES (12/12) NA NA NA

REAL ESTATE LOANS (12/10) billions NA NA NA

MONEY SUPPLY, M2 (12/8) billions $4,009.8 $4,013.7 r 5.1

INITIAL CLAIMS, UNEMPLOYMENT (12/13)

thous. 320 314 -8.0

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

Federal Reserve, Labor Dept.

PRICES

LATEST WEEK YEARLY

WEEK AGO % CHG

GOLD (12/24) $/troy oz. 292.500 287.850 -20.7

STEEL SCRAP (12/23) #1 heavy, $/ton 143.50 143.50 23.2

COPPER (12/19) cents/lb. 82.4 73.8 -21.2

ALUMINUM (12/19) cents/lb. 74.3 76.3 2.5

COTTON (12/19) strict low middling

1-1/16 in., cents/lb. 63.62 64.50 -11.8

OIL (12/23) $/bbl. 18.13 18.02 -35.1

CRB FOODSTUFFS (12/23) 1967=100 230.12 236.42 -1.0

CRB RAW INDUSTRIALS (12/23) 1967=100 308.31 307.57 -7.6

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

market, NYMEX, Commodity Research Bureau

FOREIGN EXCHANGE

LATEST WEEK YEARLY

WEEK AGO % CHG

JAPANESE YEN (12/24) 129.81 126.83 114.48

GERMAN MARK (12/24) 1.78 1.77 1.56

BRITISH POUND (12/24) 1.67 1.65 1.67

FRENCH FRANC (12/24) 5.94 5.92 5.25

ITALIAN LIRA (12/24) 1735.4 1734.5 1528.5

CANADIAN DOLLAR (12/24) 1.44 1.42 1.37

MEXICAN PESO (12/24)3 8.185 8.105 7.836

TRADE-WEIGHTED DOLLAR INDEX (12/24) 109.3 108.4 99.3

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 (12/23) 5.45% 5.56% 5.25%

COMMERCIAL PAPER (12/24) 3-month 5.75 5.70 5.60

CERTIFICATES OF DEPOSIT (12/24) 3-month 5.82 5.80 5.44

FIXED MORTGAGE (12/19) 30-year 7.26 7.35 7.92

ADJUSTABLE MORTGAGE (12/19) one-year 5.74 5.85 5.73

PRIME (12/19) 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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