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Business Week Index


Business Week Index

BusinessWeek Index

PRODUCTION INDEXThe production index was up for the seventh week in a row. The unaveragedindex also increased, to 137.6, from 136.2 in the previous week. Afterseasonal adjustment, rail-freight traffic was up 3.2%, and the Association ofAmerican Railroads reported that cumulative figures for the first 35 weeks of1998 show ton-miles up 1.8% from a year ago. Output of steel, autos, trucks,coal, and lumber were also up. Crude-oil refining dipped 0.8%, and electricitywas unchanged.PRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STEEL (9/12) thous. of net tons 2,074 2,112# -4.6

AUTOS (9/12) units 88,534 127,043r# -21.2

TRUCKS (9/12) units 89,477 130,930r# -29.3

ELECTRIC POWER (9/12) millions of kilowatt-hrs. 69,817 75,728# 2.3

CRUDE-OIL REFINING (9/12) thous. of bbl./day 15,420 15,352# 1.1

COAL (9/5) thous. of net tons 22,698# 22,258 14.9

LUMBER (9/5) millions of ft. 483.3# 494.4 22.8

RAIL FREIGHT (9/5) billions of ton-miles 27.8# 27.2 16.8

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 (9/11) S&P 500 1009.06 973.89 9.2

CORPORATE BOND YIELD, Aaa (9/11) 6.42% 6.44% -11.2

MONEY SUPPLY, M2 (8/31) billions $4,252.0 $4,237.2r 7.0

INITIAL CLAIMS, UNEMPLOYMENT (9/4) thous. 312 304r -0.3

MORTGAGE APPLICATIONS, PURCHASE (9/11) 302.5 305.1 41.2

MORTGAGE APPLICATIONS, REFINANCE (9/11) 2,141.9 1,924.0 329.7

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 (9/16) $/troy oz. 288.250 283.450 -10.0

STEEL SCRAP (9/15) #1 heavy, $/ton 85.50 91.00 -37.8

COPPER (9/11) cents/lb. 81.1 78.4 -17.8

ALUMINUM (9/11) cents/lb. 66.8 66.5 -13.0

COTTON (9/12) strict low middling

1-1/16 in., cents/lb. 71.62 72.43 1.2

OIL (9/15) $/bbl. 14.45 14.18 -25.6

CRB FOODSTUFFS (9/15) 1967=100 221.49 219.51 -7.9

CRB RAW INDUSTRIALS (9/15) 1967=100 280.11 285.19 -16.7

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 (9/15) 5.71% 5.66% 5.52%

COMMERCIAL PAPER (9/15) 3-month 5.33 5.43 5.51

CERTIFICATES OF DEPOSIT (9/16) 3-month 5.43 5.48 5.58

FIXED MORTGAGE (9/11) 30-year 6.85 6.90 7.71

ADJUSTABLE MORTGAGE (9/11) one-year 5.65 5.69 5.79

PRIME (9/16) 8.50 8.50 8.50

Sources: Federal Reserve, HSH Associates, Bloomberg Financial Markets

FOREIGN EXCHANGE

LATEST WEEK YEAR

WEEK AGO AGO

JAPANESE YEN (9/16) 135.05 137.30 120.85

GERMAN MARK (9/16) 1.69 1.73 1.77

BRITISH POUND (9/16) 1.68 1.66 1.60

FRENCH FRANC (9/16) 5.68 5.79 5.95

ITALIAN LIRA (9/16) 1673.2 1704.5 1729.8

CANADIAN DOLLAR (9/16) 1.50 1.52 1.39

MEXICAN PESO (9/16)3 10.035 10.320 7.752

TRADE-WEIGHTED DOLLAR INDEX (9/16) 110.7 112.1 106.2

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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