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Business Week Index


Business Week Index

BusinessWeek Index

The production index continued to climb in the week ended Jan. 3. Theunaveraged index was up to 132.9, from 131.6, and the monthly index forDecember soared 2% to 130.3, from 127.7 in November. The auto and truck makerswere closed down for New Year's Day, but after seasonal adjustment,rail-freight traffic was up 7.4% with big increases in carloads of lumber,motor vehicles, and equipment. Steel and oil production were also up, butelectric power output fell 2.8%.BW production index copyright 1998 Bloomberg L.P.PRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STEEL (1/10) thous. of net tons 2,223 2,254 # 11.4

AUTOS (1/10) units 109,076 1,593 r# -3.2

TRUCKS (1/10) units 125,339 0 # 4.3

ELECTRIC POWER (1/10)

millions of kilowatt-hrs. 61,852 61,946 # -5.9

CRUDE-OIL REFINING (1/10)

thous. of bbl./day 14,879 14,861 # 8.0

COAL (1/3) thous. of net tons NA # 17,566 NA

LUMBER (1/3) millions of ft. 282.8 # 288.8 -5.4

RAIL FREIGHT (1/3) billions of ton-miles 23.4 # 20.7 1.7

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 (1/9) S&P 500 927.69 975.00 22.1

CORPORATE BOND YIELD, Aaa (1/9) 6.55 % 6.70 % -11.7

INDUSTRIAL MATERIALS PRICES (1/9) 96.2 97.6 -11.4

BUSINESS FAILURES (1/2) NA NA NA

REAL ESTATE LOANS (1/1) billions NA NA NA

MONEY SUPPLY, M2 (12/29) billions $4,034.9 $4,022.1 r 5.6

INITIAL CLAIMS, UNEMPLOYMENT (1/3) thous. 334 314 r -8.5

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

Federal Reserve, Labor Dept.

PRICES

LATEST WEEK YEARLY

WEEK AGO % CHG

GOLD (1/14) $/troy oz. 282.500 281.600 -20.3

STEEL SCRAP (1/13) #1 heavy, $/ton 143.50 143.50 9.1

COPPER (1/9) cents/lb. 78.2 80.0 -30.2

ALUMINUM (1/9) cents/lb. 72.3 73.5 -3.6

COTTON (1/9) strict low

middling 1-1/16 in., cents/lb. 63.93 63.80 -8.8

OIL (1/13) $/bbl. 16.25 16.64 -34.6

CRB FOODSTUFFS (1/13) 1967=100 226.39 231.01 -4.3

CRB RAW INDUSTRIALS (1/13) 1967=100 295.58 304.05 -13.1

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 (1/14) 131.19 131.63 117.24

GERMAN MARK (1/14) 1.82 1.82 1.59

BRITISH POUND (1/14) 1.63 1.63 1.68

FRENCH FRANC (1/14) 6.11 6.10 5.37

ITALIAN LIRA (1/14) 1794.5 1789.5 1548.5

CANADIAN DOLLAR (1/14) 1.43 1.43 1.34

MEXICAN PESO (1/14)3 8.178 8.055 7.809

TRADE-WEIGHTED DOLLAR INDEX (1/14) 110.9 111.0 100.2

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 (1/13) 5.42 % 5.35 % 5.14 %

COMMERCIAL PAPER (1/13) 3-month 5.37 5.51 5.46

CERTIFICATES OF DEPOSIT (1/14) 3-month 5.53 5.58 5.43

FIXED MORTGAGE (1/9) 30-year 7.08 7.26 7.99

ADJUSTABLE MORTGAGE (1/9) one-year 5.68 5.75 5.78

PRIME (1/9) 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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