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Business Week Index

BusinessWeek Index

PRODUCTION INDEXThe production index continued its slide, as did the unaveraged index whichdipped 0.4%, from 133.1 to 132.6 in the week ended Feb. 7. After seasonaladjustment, auto production was down 11.3% and trucks 4.3%. Output was down atall three big auto makers--Ford posted a 2.3% decline, GM was down 3.3%, andChrysler fell 8.2%. Steel, lumber, and rail freight were also down. Increaseswere posted for the production of coal, oil, and electric power.BW production index copyright 1998 Bloomberg L.P.PRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STEEL (2/14) thous. of net tons 2,232 2,167 # 7.8

AUTOS (2/14) units 115,570 112,288 r# -7.9

TRUCKS (2/14) units 142,352 135,236 r# 12.5

ELECTRIC POWER (2/14)

millions of kilowatt-hrs. NA 64,943 # NA

CRUDE-OIL REFINING (2/14)

thous. of bbl./day NA 14,154 # NA

COAL (2/7) thous. of net tons 21,027 # 20,564 -5.4

LUMBER (2/7) millions of ft. 471.1 # 477.8 -5.2

RAIL FREIGHT (2/7)

billions of ton-miles 26.5 # 26.8 -1.5

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 (2/13) S&P 500 1020.90 1012.46 26.3

CORPORATE BOND YIELD, Aaa (2/13) 6.69 % 6.69 % -7.9

INDUSTRIAL MATERIALS PRICES (2/13) 95.7 96.0 -11.4

MONEY SUPPLY, M2 (2/2) billions $4,080.5 $4,070.6 r 6.0

INITIAL CLAIMS, UNEMPLOYMENT (2/7) thous. 303 305 r -1.6

MORTGAGE APPLICATIONS, PURCHASE (2/13) 222.5 249.4 33.0

MORTGAGE APPLICATIONS, REFINANCE (2/13) 1,685.7 2,028.7 319.9

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

Federal Reserve, Labor Dept., Mortgage Bankers Assn. (Index: March 16, 1990=100)

PRICES

LATEST WEEK YEARLY

WEEK AGO % CHG

GOLD (2/18) $/troy oz. 298.150 298.450 -13.9

STEEL SCRAP (2/10) #1 heavy, $/ton 140.50 140.50 -4.1

COPPER (2/13) cents/lb. 79.4 80.2 -28.8

ALUMINUM (2/13) cents/lb. 72.0 72.8 -3.7

COTTON (2/13) strict low middling

1-1/16 in., cents/lb. 64.41 63.65 -8.0

OIL (2/17) $/bbl. 15.41 16.18 -30.4

CRB FOODSTUFFS (2/17) 1967=100 224.01 225.34 -6.0

CRB RAW INDUSTRIALS (2/17) 1967=100 299.21 295.52 -13.3

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 (2/18) 126.29 123.67 124.39

GERMAN MARK (2/18) 1.82 1.82 1.70

BRITISH POUND (2/18) 1.64 1.63 1.61

FRENCH FRANC (2/18) 6.10 6.10 5.74

ITALIAN LIRA (2/18) 1796.0 1795.5 1690.4

CANADIAN DOLLAR (2/18) 1.43 1.44 1.36

MEXICAN PESO (2/18)3 8.531 8.435 7.777

TRADE-WEIGHTED DOLLAR INDEX (2/18) 109.6 108.9 105.0

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 (2/17) 6.00 % 5.44 % 5.55 %

COMMERCIAL PAPER (2/17) 3-month 5.45 5.42 5.38

CERTIFICATES OF DEPOSIT (2/18) 3-month 5.53 5.55 5.34

FIXED MORTGAGE (2/13) 30-year 7.20 7.16 7.85

ADJUSTABLE MORTGAGE (2/13) one-year 5.76 5.70 5.81

PRIME (2/13) 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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