Business Week Index

BusinessWeek Index

The production index was up in the week ended Apr. 11. The unaveraged indexwas down 0.2%, to 132.8, from 133 in the previous week. After seasonaladjustment, output of electric power was down 1.1%, with large decreases ofavailable energy in the Pacific Northwest and New England regions.Rail-freight traffic also declined by 0.7%. Coal production was up 2.2% andfilled 135,496 railroad cars. All other components were up.BW production index copyright 1998 Bloomberg L.P.PRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STEEL (4/18) thous. of net tons 2,148 2,174 # 3.8

AUTOS (4/18) units 106,241 93,853 r# -19.8

TRUCKS (4/18) units 125,187 114,222 r# 3.6

ELECTRIC POWER (4/18)

millions of kilowatt-hrs. 56,175 56,251 # -1.4

CRUDE-OIL REFINING (4/18)

thous. of bbl./day 15,157 14,945 # 6.2

COAL (4/11) thous. of net tons 20,623 # 21,297 7.6

LUMBER (4/11) millions of ft. 482.1 # 481.4 -0.7

RAIL FREIGHT (4/11)

billions of ton-miles 26.1 # 27.1 3.2

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 (4/17) S&P 500 1122.72 1109.69 46.5

CORPORATE BOND YIELD, Aaa (4/17) 6.67 % 6.64 % -13.7

MONEY SUPPLY, M2 (4/6) billions $4,146.3 $4,123.9 r 6.8

INITIAL CLAIMS, UNEMPLOYMENT (4/11) thous. 289 311 r -13.0

MORTGAGE APPLICATIONS, PURCHASE (4/17) 227.3 287.3 25.4

MORTGAGE APPLICATIONS, REFINANCE (4/17) 1,087.0 1,684.2 285.1

Sources: Standard & Poor's, Moody's, Federal Reserve, Labor Dept., Mortgage

Bankers Assn. (Index: March 16, 1990=100)

PRICES

LATEST WEEK YEARLY

WEEK AGO % CHG

GOLD (4/22) $/troy oz. 312.800 307.200 -8.3

STEEL SCRAP (4/21) #1 heavy, $/ton 133.50 133.50 -2.6

COPPER (4/17) cents/lb. 86.8 81.7 -21.2

ALUMINUM (4/17) cents/lb. 69.8 68.0 -6.3

COTTON (4/18) strict

low middling 1-1/16 in., cents/lb. 61.05 60.00 -11.1

OIL (4/21) $/bbl. 15.13 14.82 -21.3

CRB FOODSTUFFS (4/21) 1967=100 231.85 228.43 -3.3

CRB RAW INDUSTRIALS (4/21) 1967=100 300.33 298.52 -9.8

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 (4/22) 130.76 129.30 126.19

GERMAN MARK (4/22) 1.79 1.80 1.71

BRITISH POUND (4/22) 1.67 1.69 1.62

FRENCH FRANC (4/22) 6.01 6.03 5.78

ITALIAN LIRA (4/22) 1771.9 1776.0 1702.5

CANADIAN DOLLAR (4/22) 1.43 1.44 1.39

MEXICAN PESO (4/22)3 8.459 8.467 7.873

TRADE-WEIGHTED DOLLAR INDEX (4/22) 109.9 109.9 106.4

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 (4/21) 5.37 % 5.47 % 5.50 %

COMMERCIAL PAPER (4/21) 3-month 5.47 5.47 5.70

CERTIFICATES OF DEPOSIT (4/22) 3-month 5.58 5.58 5.71

FIXED MORTGAGE (4/17) 30-year 7.06 7.12 8.29

ADJUSTABLE MORTGAGE (4/17) one-year 5.84 5.76 6.16

PRIME (4/17) 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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