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Business Week Index


Business Week Index

BusinessWeek Index

The production index was down in the week ended Mar. 14. The unaveraged indexalso fell, to 130.9 from 131.3 in the previous week. After seasonaladjustment, the majority of the components were down. Severe winter storms inthe Midwest caused the 9.1% decline in rail freight traffic. Coal productionwas down 14%, with the largest upsets in Colorado, Utah, Alabama, and Wyoming.Output of steel, trucks, oil, and lumber also dipped. Auto production was up7.5% and electric power was up 6.3%.BW production index copyright 1998 Bloomberg L.P.PRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STEEL (3/21) thous. of net tons 2,250 2,102 # 6.3

AUTOS (3/21) units 122,555 117,333 r# -3.2

TRUCKS (3/21) units 147,862 137,583 r# 12.7

ELECTRIC POWER (3/21)

millions of kilowatt-hrs. 61,674 64,390 # 3.9

CRUDE-OIL REFINING (3/21)

thous. of bbl./day 11,734 14,581 # -16.7

COAL (3/14) thous. of net tons 20,171 # 22,916 -6.5

LUMBER (3/14) millions of ft. 475.0 # 477.8 -6.7

RAIL FREIGHT (3/14) billions of ton-miles 25.4 # 27.5 -6.3

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 (3/20) S&P 500 1099.16 1068.59 40.2

CORPORATE BOND YIELD, Aaa (3/20) 6.66 % 6.69 % -12.5

INDUSTRIAL MATERIALS PRICES (3/20) 95.2 95.1 -11.5

MONEY SUPPLY, M2 (3/9) billions $4,117.7 $4,114.4 r 6.6

INITIAL CLAIMS, UNEMPLOYMENT (3/14) thous. 308 299 r -1.9

MORTGAGE APPLICATIONS, PURCHASE (3/20) 234.1 217.2 18.7

MORTGAGE APPLICATIONS, REFINANCE (3/20) 1,421.4 1,337.9 258.3

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 (3/25) $/troy oz. 299.250 290.400 -13.5

STEEL SCRAP (3/24) #1 heavy, $/ton 135.50 135.50 -0.7

COPPER (3/20) cents/lb. 83.8 84.1 -28.8

ALUMINUM (3/20) cents/lb. 69.8 69.5 -12.7

COTTON (3/21) strict low middling

1-1/16 in., cents/lb. 67.78 64.42 -4.0

OIL (3/24) $/bbl. 15.40 12.99 -25.9

CRB FOODSTUFFS (3/24) 1967=100 230.47 229.73 -6.0

CRB RAW INDUSTRIALS (3/24) 1967=100 304.07 305.07 -10.4

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 (3/25) 129.06 130.22 124.23

GERMAN MARK (3/25) 1.83 1.83 1.69

BRITISH POUND (3/25) 1.67 1.67 1.63

FRENCH FRANC (3/25) 6.13 6.12 5.70

ITALIAN LIRA (3/25) 1800.0 1799.8 1685.5

CANADIAN DOLLAR (3/25) 1.41 1.42 1.37

MEXICAN PESO (3/25)3 8.517 8.575 7.893

TRADE-WEIGHTED DOLLAR INDEX (3/25) 109.6 110.2 105.1

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 (3/24) 5.41 % 5.47 % 5.57 %

COMMERCIAL PAPER (3/24) 3-month 5.48 5.47 5.70

CERTIFICATES OF DEPOSIT (3/25) 3-month 5.58 5.58 5.66

FIXED MORTGAGE (3/20) 30-year 7.15 7.22 8.09

ADJUSTABLE MORTGAGE (3/20) one-year 5.76 5.86 5.85

PRIME (3/20) 8.50 8.50 8.50

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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