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Business Week Index


Business Week Index

BusinessWeek Index

PRODUCTION INDEXThe production index slipped slightly in the week ended Feb. 14. However,before calculation of the four-week moving average, the index bounced back,rising to 132.2, from 130.9 in the previous week. On a seasonally adjustedbasis, rail-freight traffic and production of steel, autos, trucks, andcrude-oil refining all increased. Output of electric power declined again aswarm weather across much of the nation lessened the demand for energy.BW production index copyright 1998 Bloomberg L.P.PRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STEEL (2/21) thous. of net tons 2,282 2,232 # 8.2

AUTOS (2/21) units 120,475 116,797 r# -9.2

TRUCKS (2/21) units 139,888 139,968 r# 5.8

ELECTRIC POWER (2/21)

millions of kilowatt-hrs. 62,699 64,408 # 2.7

CRUDE-OIL REFINING (2/21)

thous. of bbl./day 13,805 13,996 # 2.9

COAL (2/14) thous. of net tons 22,423 # 21,027 7.7

LUMBER (2/14) millions of ft. 479.9 # 471.1 -6.6

RAIL FREIGHT (2/14)

billions of ton-miles 27.6 # 26.5 3.0

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 (2/20) S&P 500 1034.21 1020.90 29.0

CORPORATE BOND YIELD, Aaa (2/20) 6.71 % 6.69 % -9.1

INDUSTRIAL MATERIALS PRICES (2/20) 95.4 95.7 -12.3

MONEY SUPPLY, M2 (2/9) billions $4,081.1 $4,079.0 r 6.0

INITIAL CLAIMS, UNEMPLOYMENT (2/14) thous. 301 303 -1.6

MORTGAGE APPLICATIONS, PURCHASE (2/20) 250.8 222.5 22.2

MORTGAGE APPLICATIONS, REFINANCE (2/20) 2,005.6 1,685.7 260.7

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 (2/25) $/troy oz. 292.250 298.150 -17.6

STEEL SCRAP (2/17) #1 heavy, $/ton 140.50 140.50 -3.4

COPPER (2/20) cents/lb. 78.0 79.4 -32.4

ALUMINUM (2/20) cents/lb. 70.3 72.0 -7.6

COTTON (2/20) strict low

middling 1-1/16 in., cents/lb. 62.89 64.41 -11.9

OIL (2/24) $/bbl. 15.33 15.41 -25.0

CRB FOODSTUFFS (2/24) 1967=100 220.51 224.01 -8.2

CRB RAW INDUSTRIALS (2/24) 1967=100 299.18 299.21 -13.6

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 (2/25) 128.65 126.29 120.60

GERMAN MARK (2/25) 1.82 1.82 1.69

BRITISH POUND (2/25) 1.64 1.64 1.63

FRENCH FRANC (2/25) 6.09 6.10 5.71

ITALIAN LIRA (2/25) 1793.5 1796.0 1688.9

CANADIAN DOLLAR (2/25) 1.42 1.43 1.37

MEXICAN PESO (2/25)3 8.573 8.531 7.950

TRADE-WEIGHTED DOLLAR INDEX (2/25) 109.6 109.6 104.3

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 (2/24) 5.49 % 6.00 % 5.28 %

COMMERCIAL PAPER (2/24) 3-month 5.45 5.45 5.39

CERTIFICATES OF DEPOSIT (2/25) 3-month 5.56 5.53 5.35

FIXED MORTGAGE (2/20) 30-year 7.10 7.20 7.74

ADJUSTABLE MORTGAGE (2/20) one-year 5.71 5.76 5.65

PRIME (2/20) 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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