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Business Week Index

BusinessWeek Index

PRODUCTION INDEXThe production index slipped in the week ended Sept. 26. The unaveraged indexwas also down, by 0.4%, to 135.6 from 136.1 a week ago. After seasonaladjustment, auto and truck production dipped. General Motors announced plansto schedule heavy overtime through the fall to try to recapture some of the500,000 vehicles, and $2-billion, lost during the recent strike. Output ofcrude oil and lumber were also down. Steel, electricity, coal, andrail-freight traffic posted small increases.BW production index copyright 1998 Bloomberg L.P.PRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STEEL (10/3) thous. of net tons 1,969 1,929# -9.2

AUTOS (10/3) units 127,738 136,806r# 2.8

TRUCKS (10/3) units 130,515 138,411r# -7.3

ELECTRIC POWER (10/3) millions of kilowatt-hrs. 67,849 68,881# 6.8

CRUDE-OIL REFINING (10/3) thous. of bbl./day 13,653 14,815# -9.5

COAL (9/26) thous. of net tons 22,628# 22,087 5.5

LUMBER (9/26) millions of ft. 488.9# 490.4 1.9

RAIL FREIGHT (9/26) billions of ton-miles 27.6# 27.4 3.8

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 (10/2) S&P 500 1002.60 1044.75 3.9

CORPORATE BOND YIELD, Aaa (10/2) 6.12% 6.35% -12.1

MONEY SUPPLY, M2 (9/21) billions $4,308.4 $4,289.0r 8.5

INITIAL CLAIMS, UNEMPLOYMENT (9/25) thous. 289 294r -7.1

MORTGAGE APPLICATIONS, PURCHASE (10/2) 304.0 283.6 38.2

MORTGAGE APPLICATIONS, REFINANCE (10/2) 3,253.1 2,682.7 346.7

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 (10/7) $/troy oz. 298.000 293.850 -10.4

STEEL SCRAP (10/6) #1 heavy, $/ton 85.50 85.50 -37.8

COPPER (10/2) cents/lb. 78.7 78.7 -19.9

ALUMINUM (10/2) cents/lb. 63.5 63.5 -19.6

COTTON (10/2) strict low 69.95 70.90 0.5

middling 1-1/16 in., cents/lb.

OIL (10/6) $/bbl. 15.30 15.81 -30.2

CRB FOODSTUFFS (10/6) 1967=100 222.04 225.10 -9.2

CRB RAW INDUSTRIALS (10/6) 1967=100 276.06 281.79 -17.4

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 (10/7) 122.85 136.43 121.59

GERMAN MARK (10/7) 1.61 1.67 1.75

BRITISH POUND (10/7) 1.70 1.70 1.62

FRENCH FRANC (10/7) 5.40 5.60 5.89

ITALIAN LIRA (10/7) 1593.0 1651.0 1721.5

CANADIAN DOLLAR (10/7) 1.52 1.53 1.37

MEXICAN PESO (10/7)3 10.180 10.190 7.754

TRADE-WEIGHTED DOLLAR INDEX (10/7) 106.6 110.9 105.4

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 (10/6) 4.65% 5.44% 5.42%

COMMERCIAL PAPER (10/6) 3-month 5.10 5.08 5.50

CERTIFICATES OF DEPOSIT (10/7) 3-month 5.31 5.25 5.61

FIXED MORTGAGE (10/2) 30-year 6.68 6.81 7.45

ADJUSTABLE MORTGAGE (10/2) one-year 5.60 5.65 5.65

PRIME (10/2) 8.25 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. 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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