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Business Week Index


Business Week Index

BusinessWeek Index

PRODUCTION INDEXThe production index rose in the week ended Dec. 27. Before calculation of thefour-week moving average, the index was up 1%, to 131.6, from 130.3 in theprevious week. After seasonal adjustment, most of the components showed strongincreases during this holiday-shortened week. Output of steel and oil were upover 5% each, trucks, electricity, and lumber, were up over 4% each, and coalposted a 3.2% gain. Auto production was down 1.5%, and rail-freight trafficfell 4.5%.BW production index copyright 1997 Bloomberg L.P.PRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STEEL (1/3) thous. of net tons 2,254 2,164 # 12.8

AUTOS (1/3) units 0 42,816 r# NM

TRUCKS (1/3) units 0 52,848 r# NM

ELECTRIC POWER (1/3) millions of kilowatt-hrs. 61,946 60,720 # 7.0

CRUDE-OIL REFINING (1/3) thous. of bbl./day 14,861 15,061 # 5.5

COAL (12/27) thous. of net tons 17,566 # 22,896 16.0

LUMBER (12/27) millions of ft. 288.8 # 469.8 9.6

RAIL FREIGHT (12/27) billions of ton-miles 20.7 # 28.0 9.5

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 (1/2) S&P 500 975.00 936.46 30.3

CORPORATE BOND YIELD, Aaa (1/2) 6.70 % 6.69 % -8.1

INDUSTRIAL MATERIALS PRICES (1/2) 97.6 98.7 -9.7

BUSINESS FAILURES (12/26) NA NA NA

REAL ESTATE LOANS (12/25) billions NA NA NA

MONEY SUPPLY, M2 (12/22) billions $4,023.8 $4,008.2 r 5.3

INITIAL CLAIMS, UNEMPLOYMENT (12/27) thous. 318 305 -14.3

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

Federal Reserve, Labor Dept.

PRICES

LATEST WEEK YEARLY

WEEK AGO % CHG

GOLD (1/7) $/troy oz. 281.600 290.200 -21.0

STEEL SCRAP (1/6) #1 heavy, $/ton 143.50 143.50 23.2

COPPER (1/2) cents/lb. 80.0 81.8 -24.9

ALUMINUM (1/2) cents/lb. 73.5 74.0 0.0

COTTON (1/2) strict low

middling 1-1/16 in., cents/lb. 63.80 64.34 -10.3

OIL (1/6) $/bbl. 16.64 17.40 -36.5

CRB FOODSTUFFS (1/6) 1967=100 231.01 228.83 -0.1

CRB RAW INDUSTRIALS (1/6) 1967=100 304.05 306.88 -9.4

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 (1/7) 131.63 130.57 115.91

GERMAN MARK (1/7) 1.82 1.80 1.58

BRITISH POUND (1/7) 1.63 1.65 1.69

FRENCH FRANC (1/7) 6.10 6.01 5.32

ITALIAN LIRA (1/7) 1789.5 1768.0 1542.7

CANADIAN DOLLAR (1/7) 1.43 1.49 1.35

MEXICAN PESO (1/7)3 8.055 8.070 7.812

TRADE-WEIGHTED DOLLAR INDEX (1/7) 111.0 110.0 99.8

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 (1/6) 5.35 % 6.07 % 5.20 %

COMMERCIAL PAPER (1/6) 3-month 5.51 5.65 5.45

CERTIFICATES OF DEPOSIT (1/7) 3-month 5.58 5.72 5.41

FIXED MORTGAGE (1/2) 30-year 7.26 7.23 7.68

ADJUSTABLE MORTGAGE (1/2) one-year 5.75 5.74 5.76

PRIME (1/2) 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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