Business Week Index

BusinessWeek Index

The production index rose in the week ended June 6. The unaveraged index wasalso up, to 134.9, from 133.6. After seasonal adjustment, rail freight jumpedby 1.9%, with strong increases in grain traffic, which had been weak thisyear. Electric power was up 1.8%, with large increases in the South Centraland Southeast regions. Auto and truck production also rose, prior to GeneralMotors Corp.'s being hit by a strike at it's Flint, MI, plant. Lumber outputrose, as did steel and coal production.BW production index copyright 1998 Bloomberg L.P.PRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STEEL (6/13) thous. of net tons 2,190 2,174 # 4.8

AUTOS (6/13) units 112,852 112,774 r# -7.3

TRUCKS (6/13) units 124,136 144,285 r# -4.3

ELECTRIC POWER (6/13)

millions of kilowatt-hrs. 64,274 66,333 # 3.8

CRUDE-OIL REFINING (6/13)

thous. of bbl./day 15,507 15,245 # 2.8

COAL (6/6) thous. of net tons 21,581 # 20,984 2.5

LUMBER (6/6) millions of ft. 494.9 # 374.3 -0.4

RAIL FREIGHT (6/6) billions of ton-miles 27.8 # 26.2 5.3

Sources: American Iron & Steel Institute, Ward's Automotive Reports, Edison

Electric Institute, American Petroleum Institute, Energy Dept., WWPA*, SFPA**,

Association of American Railroads

LEADING INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STOCK PRICES (6/12) S&P 500 1098.84 1113.86 23.0

CORPORATE BOND YIELD, Aaa (6/12) 6.52 % 6.59 % -12.4

MONEY SUPPLY, M2 (6/1) billions $4,188.4 $4,169.1 r 7.2

INITIAL CLAIMS, UNEMPLOYMENT (6/6) thous. 315 338 r -6.5

MORTGAGE APPLICATIONS, PURCHASE (6/12) 262.1 272.1

24.8

MORTGAGE APPLICATIONS, REFINANCE (6/12) 1,209.6 1,120.7 222.0

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 (6/17) $/troy oz. 290.000 293.000 -15.1

STEEL SCRAP (6/16) #1 heavy, $/ton 134.50 134.50 -2.9

COPPER (6/12) cents/lb. 80.0 79.0 -34.3

ALUMINUM (6/12) cents/lb. 64.0 64.5 -16.9

COTTON (6/13) strict low middling

1-1/16 in., cents/lb. 72.11 71.94 1.8

OIL (6/16) $/bbl. 11.94 13.56 -36.7

CRB FOODSTUFFS (6/16) 1967=100 240.14 238.13 -1.1

CRB RAW INDUSTRIALS (6/16) 1967=100 297.83 302.29 -12.0

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 (6/17) 137.55 141.63 113.43

GERMAN MARK (6/17) 1.79 1.80 1.73

BRITISH POUND (6/17) 1.67 1.63 1.64

FRENCH FRANC (6/17) 5.99 6.03 5.85

ITALIAN LIRA (6/17) 1759.0 1770.5 1697.5

CANADIAN DOLLAR (6/17) 1.46 1.47 1.39

MEXICAN PESO (6/17)*** 8.875 8.881 7.909

TRADE-WEIGHTED DOLLAR INDEX (6/17) 112.9 113.8 103.4

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 (6/16) 5.55 % 5.38 % 5.46 %

COMMERCIAL PAPER (6/16) 3-month 5.50 5.50 5.64

CERTIFICATES OF DEPOSIT (6/17) 3-month 5.60 5.58 5.65

FIXED MORTGAGE (6/12) 30-year 7.11 7.10 7.90

ADJUSTABLE MORTGAGE (6/12) one-year 5.79 5.80 5.98

PRIME (6/12) 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. * Western Wood Products Assn. ** Southern

Forest Products Assn. *** Free market value NA=Not available r=Revised

NM=Not meaningful

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