Business Week Index

BusinessWeek Index

PRODUCTION INDEXThe production index was up for the fourth week in a row in the week endedAug. 15. The unaveraged index also increased, by 0.7%, from 134.5 in theprevious week, to 135.5. After seasonal adjustment, rail-freight traffic wasup 1.7%, with large increases in carloads of motor vehicles and equipment,waste and scrap materials, and food products. Output of steel, autos,electricity, oil, and coal were also up. Truck production was down by 3.9%,and lumber output fell 1.7%.BW production index copyright 1998 Bloomberg L.P.PRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STEEL (8/22) thous. of net tons 2,127 2,120# 4.9

AUTOS (8/22) units 119,739 126,473r# -1.0

TRUCKS (8/22) units 136,475 127,876r# 14.2

ELECTRIC POWER (8/22)

millions of kilowatt-hrs. 76,283 77,764# 4.8

CRUDE-OIL REFINING (8/22)

thous. of bbl./day 15,577 15,615# 1.8

COAL (8/15) thous. of net tons 21,840# 21,243 4.7

LUMBER (8/15) millions of ft. 489.7# 494.7 1.9

RAIL FREIGHT (8/15) billions of ton-miles 26.9# 26.2 3.5

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 (8/21) S&P 500 1081.18 1062.75 17.1

CORPORATE BOND YIELD, Aaa (8/21) 6.50% 6.52% -11.2

MONEY SUPPLY, M2 (8/10) billions $4,229.0 $4,222.3r 7.3

INITIAL CLAIMS, UNEMPLOYMENT (8/14) thous. 301 303r -11.2

MORTGAGE APPLICATIONS, PURCHASE (8/21) 243.1 251.4 10.6

MORTGAGE APPLICATIONS, REFINANCE (8/21) 1,211.9 1,310.5 119.2

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 (8/26) $/troy oz. 283.150 285.500 -12.8

STEEL SCRAP (8/25)#1 heavy, $/ton 120.50 120.50 -17.7

COPPER (8/21) cents/lb. 77.0 76.2 -24.2

ALUMINUM (8/21) cents/lb. 63.8 63.5 -22.2

COTTON (8/22) strict low middling

1-1/16 in., cents/lb. 73.19 71.40 2.7

OIL (8/25) $/bbl. 13.81 12.81 -27.3

CRB FOODSTUFFS (8/25) 1967=100 220.77 225.62 3.0

CRB RAW INDUSTRIALS (8/25) 1967=100 287.47 289.29 -15.2

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 (8/25) 5.50% 5.54% 5.62%

COMMERCIAL PAPER (8/25) 3-month 5.49 5.50 5.55

CERTIFICATES OF DEPOSIT (8/26) 3-month 5.57 5.58 5.59

FIXED MORTGAGE (8/21) 30-year 7.02 7.03 7.60

ADJUSTABLE MORTGAGE (8/21) one-year 5.75 5.81 5.69

PRIME (8/26) 8.50 8.50 8.50

FOREIGN EXCHANGE

LATEST WEEK YEAR

WEEK AGO AGO

JAPANESE YEN (8/26) 144.53 144.31 119.06

GERMAN MARK (8/26) 1.81 1.80 1.81

BRITISH POUND (8/26) 1.64 1.62 1.61

FRENCH FRANC (8/26) 6.06 6.03 6.09

ITALIAN LIRA (8/26) 1782.5 1773.1 1767.0

CANADIAN DOLLAR (8/26) 1.56 1.53 1.39

MEXICAN PESO (8/26)*** 9.810 9.192 7.753

TRADE-WEIGHTED DOLLAR INDEX (8/26) 116.9 115.9 106.6

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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