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Business Week Index


Business Week Index

BusinessWeek Index

The production index fell in the week ended June 20. The unaveraged index alsodipped, to 132.3, from 133.6. After seasonal adjustment, both auto and truckproduction plummeted 10%, as the UAW strike at GM's Flint, Mich. plant hasbrought company-wide production to a stand-still. Cumulative output losses atGeneral Motors topped the 100,000-vehicle mark this week. Output of steel,oil, coal, and rail freight were also down. Electricity and lumber productionposted small gains.BW production index copyright 1998 Bloomberg L.P.PRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO% CHG

STEEL (6/27) thous. of net tons 1,888 2,067# -8.3

AUTOS (6/27) units 81,883 96,798R# -25.1

TRUCKS (6/27) units 93,805 103,867R# -21.2

ELECTRIC POWER (6/27)

millions of kilowatt-hrs. 77,400 70,713# 6.3

CRUDE-OIL REFINING (6/27)

thous. of bbl./day 15,333 15,443# 2.3

COAL (6/20) thous. of net tons 20,689# 21,279 3.4

LUMBER (6/20) millions of ft. 486.0# 494.9 0.1

RAIL FREIGHT (6/20)

billions of ton-miles 26.8# 27.5 3.1

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 (6/26) S&P 500 1133.20 1100.65 27.7

CORPORATE BOND YIELD, Aaa (6/26) 6.53% 6.49% -11.3

MONEY SUPPLY, M2 (6/15) billions $4,192.2 $4,183.7R 7.4

INITIAL CLAIMS, UNEMPLOYMENT

(6/20) thous. 364 330R 10.3

MORTGAGE APPLICATIONS, PURCHASE (6/26) 241.3 274.6 16.0

MORTGAGE APPLICATIONS, REFINANCE (6/26) 1,202.7 1,406.2 184.7

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 (7/1) $/troy oz. 296.800 293.850 -10.7

STEEL SCRAP (6/30)#1 heavy, $/ton 135.50 135.50 -2.2

COPPER (6/26) cents/lb. 78.2 77.7 -33.0

ALUMINUM (6/26) cents/lb. 63.8 63.5 -15.3

COTTON (6/27) strict

low middling 1-1/16 in., cents/lb. 75.55 73.04 4.7

OIL (6/30) $/bbl. 14.05 14.16 -29.1

CRB FOODSTUFFS (6/30) 1967=100 233.81 240.00 -1.5

CRB RAW INDUSTRIALS (6/30) 1967=100 296.20 296.84 -11.7

Sources: London Wednesday final setting, Chicago market, Metals Week, Memphis

market, NYMEX, Commodity Research Bureau

INTEREST RATES

LATEST WEEK YEAR

WEEK AGO AGO

FEDERAL FUNDS (6/30) 7.06% 5.36% 6.24%

COMMERCIAL PAPER (6/30) 3-month 5.51 5.50 5.64

CERTIFICATES OF DEPOSIT (7/1) 3-month 5.60 5.60 5.67

FIXED MORTGAGE (6/26) 30-year 7.07 7.08 7.81

ADJUSTABLE MORTGAGE (6/26) one-year 5.78 5.83 5.88

PRIME (6/26) 8.50 8.50 8.50

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

Electric Institute, American Petroleum Institute, Energy Dept., WWPA1, SFPA2,

Association of American Railroads

FOREIGN EXCHANGE

LATEST WEEK YEAR

WEEK AGO AGO

JAPANESE YEN (7/1) 138.28 141.13 114.41

GERMAN MARK (7/1) 1.82 1.80 1.75

BRITISH POUND (7/1) 1.66 1.67 1.67

FRENCH FRANC (7/1) 6.10 6.04 5.91

ITALIAN LIRA (7/1) 1790.2 1774.2 1705.8

CANADIAN DOLLAR (7/1) 1.46 1.47 1.38

MEXICAN PESO (7/1)*** 8.941 8.932 7.947

TRADE-WEIGHTED DOLLAR INDEX (7/1) 113.3 113.5 103.7

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.

#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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