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Business Week Index

BusinessWeek Index

PRODUCTION INDEXThe production index continued to fall in the week ended Oct. 3. Theunaveraged index dipped 0.2%, to 135.3, from 135.6 a week ago. Our seasonallyadjusted figures show auto production down 6.3%, oil down 6.2%, coal down0.4%, and rail freight down 0.3%. But even though those components were downthis week, the Association of American Railroads announced that freighttraffic, including both automotive and coal, was up for this quarter. Outputof steel, trucks, electricity, and lumber rose.BW production index copyright 1998 Bloomberg L.P.PRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STEEL (10/10) thous. of net tons 1,893 1,969# -13.0

AUTOS (10/10) units 127,290 126,545r# 2.5

TRUCKS (10/10) units 140,298 140,932r# 3.3

ELECTRIC POWER (10/10) millions of kilowatt-hrs. 63,058 67,849# -2.4

CRUDE-OIL REFINING (10/10) thous. of bbl./day NA 13,653# NA

COAL (10/3) thous. of net tons 22,305# 22,628 6.2

LUMBER (10/3) millions of ft. 489.9# 488.9 2.8

RAIL FREIGHT (10/3) billions of ton-miles 27.7# 27.6 4.1

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 (10/9) S&P 500 984.39 1002.60 1.8

CORPORATE BOND YIELD, Aaa (10/9) 6.55% 6.12% -7.6

MONEY SUPPLY, M2 (9/28) billions $4,303.6 $4,308.0r 8.1

INITIAL CLAIMS, UNEMPLOYMENT (10/2) thous. 300 289 -2.6

MORTGAGE APPLICATIONS, PURCHASE (10/9) 343.1 304.0 46.2

MORTGAGE APPLICATIONS, REFINANCE (10/9) 4,389.1 3,253.1 419.1

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 (10/14) $/troy oz. 295.300 98.000 -9.6

STEEL SCRAP (10/13) #1 heavy, $/ton 85.50 85.50 -38.7

COPPER (10/9) cents/lb. 75.5 78.7 -22.0

ALUMINUM (10/9) cents/lb. 63.5 63.5 -19.1

COTTON (10/9) strict low middling

1-1/16 in., cents/lb. 70.85 69.95 2.2

OIL (10/13) $/bbl. 14.02 15.30 -32.0

CRB FOODSTUFFS (10/13) 1967=100 224.10 222.04 -8.1

CRB RAW INDUSTRIALS (10/13) 1967=100 275.10 276.06 -17.8

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 (10/14) 119.34 122.85 121.22

GERMAN MARK (10/14) 1.64 1.61 1.75

BRITISH POUND (10/14) 1.71 1.70 1.62

FRENCH FRANC (10/14) 5.50 5.40 5.86

ITALIAN LIRA (10/14) 1623.5 1593.0 1709.0

CANADIAN DOLLAR (10/14) 1.55 1.52 1.39

MEXICAN PESO (10/14)3 10.185 10.180 7.732

TRADE-WEIGHTED DOLLAR INDEX (10/14) 106.3 106.6 105.7

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.

INTEREST RATES

LATEST WEEK YEAR

WEEK AGO AGO

FEDERAL FUNDS (10/13) 5.40% 4.65% 5.61%

COMMERCIAL PAPER (10/13) 3-month 5.11 5.10 5.53

CERTIFICATES OF DEPOSIT (10/14) 3-month 5.30 5.31 5.65

FIXED MORTGAGE (10/9) 30-year 6.70 6.68 7.46

ADJUSTABLE MORTGAGE (10/9) one-year 5.53 5.60 5.73

PRIME (10/9) 8.25 8.25 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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