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Business Week Index


Business Week Index

BusinessWeek Index

PRODUCTION INDEX

The production index moved up in the week ended Aug. 1, while the unaveraged index fell 0.7% to 132.7, from 133.6. For the month of July, the index dropped 131.7, off 0.9% from June's figure of 132.9. After seasonal adjustment, steel and coal output increased as did rail-freight traffic. The Association of American Railroads attributes the increase in coal traffic to the record hot summer weather. Production levels of autos, trucks, electricity, oil, and lumber all were down.

BW production index copyright 1998 Bloomberg L.P.PRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STEEL (8/8) thous. of net tons 2,061 2,066# 4.0

AUTOS (8/8) units 113,607 79,666r# -5.1

TRUCKS (8/8) units 117,168 84,901r# 6.6

ELECTRIC POWER (8/8) millions 75,425 76,391# 5.0

of kilowatt-hrs.

CRUDE-OIL REFINING (8/8) thous. of bbl./day 15,247 15,431# 3.8

COAL (8/1) thous. of net tons 21,223# 21,373 7.6

LUMBER (8/1) millions of ft. 505.0# 508.0 0.3

RAIL FREIGHT (8/1) billions of ton-miles 26.1# 25.8 2.4

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 (8/7) S&P 500 1089.45 1120.67 16.7

CORPORATE BOND YIELD, Aaa (8/7) 6.52% 6.59% -10.6

MONEY SUPPLY, M2 (7/27) billions $4,213.4 $4,208.9r 7.3

INITIAL CLAIMS, UNEMPLOYMENT (7/31) thous. 307 301r 0.7

MORTGAGE APPLICATIONS, PURCHASE (8/7) 254.7 257.2 15.5

MORTGAGE APPLICATIONS, REFINANCE (8/7) 1,291.9 1,278.8 79.7

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 (8/12) $/troy oz. 285.050 287.900 -12.6

STEEL SCRAP (8/11) #1 heavy, $/ton 120.50 130.50 -17.7

COPPER (8/6) cents/lb. 77.5 81.4 -29.6

ALUMINUM (8/6) cents/lb. 63.5 66.3 -23.3

COTTON (8/8) strict low middling

1-1/16 in., cents/lb. 70.41 71.01 -2.8

OIL (8/11) $/bbl. 12.59 13.52 -36.6

CRB FOODSTUFFS (8/11) 1967=100 225.43 224.04 -5.3

CRB RAW INDUSTRIALS (8/11) 1967=100 291.23 294.44 -14.8

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 (8/11) 5.47% 5.54% 5.50%

COMMERCIAL PAPER (8/11) 3-month 5.49 5.51 5.57

CERTIFICATES OF DEPOSIT (8/12) 3-month 5.58 5.59 5.57

FIXED MORTGAGE (8/6) 30-year 7.04 7.05 7.60

ADJUSTABLE MORTGAGE (8/6) one-year 5.78 5.79 5.69

PRIME (8/6) 8.50 8.50 8.50

Sources: Federal Reserve, HSH Associates, Bloomberg Financial Markets

FOREIGN EXCHANGE

LATEST WEEK YEAR

WEEK AGO AGO

JAPANESE YEN (8/12) 145.87 144.06 115.65

GERMAN MARK (8/12) 1.78 1.77 1.83

BRITISH POUND (8/12) 1.63 1.64 1.58

FRENCH FRANC (8/12) 5.95 5.94 6.19

ITALIAN LIRA (8/12) 1751.5 1747.0 1794.9

CANADIAN DOLLAR (8/12) 1.51 1.51 1.39

MEXICAN PESO (8/12)3 9.172 9.010 7.775

TRADE-WEIGHTED DOLLAR INDEX (8/12) 115.4 114.8 106.3

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.

#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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