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Business Week Index


Business Week Index

BusinessWeek Index

The production index rose in the week ended Jan. 2. The unaveraged index was also up, to 143.2, from 141.8 in the previous week. The monthly index for December increased 0.1%, to 142.4, from 142.3 in November. After seasonal adjustment, production of oil, coal, lumber, and rail-freight traffic posted healthy gains considering that this was a holiday week. Only electric power output was down. Because of holiday plant closings, there was no output of autos and trucks this week.

LEADING INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STOCK PRICES (1/8) S&P 500 1275.09 1229.23 37.4

CORPORATE BOND YIELD, Aaa (1/8) 6.34% 6.23% -3.2

MONEY SUPPLY, M2 (12/28) billions $4,433.9 $4,424.1r 9.1

INITIAL CLAIMS, UNEMPLOYMENT (1/1) thous. 350 372r 6.4

MORTGAGE APPLICATIONS, PURCHASE (1/8) 254.8 249.0 -4.2

MORTGAGE APPLICATIONS, REFINANCE (1/8) 1,494.2 1,468.5 -18.9

Sources: Standard & Poor's, Moody's, Federal Reserve, Labor Dept., Mortgage Bankers Assn. (Index: March 16, 1990=100)

INTEREST RATES

LATEST WEEK YEAR

WEEK AGO AGO

FEDERAL FUNDS (1/12) 4.78% 4.54% 5.42%

COMMERCIAL PAPER (1/12) 3-month 4.79 4.80 5.37

CERTIFICATES OF DEPOSIT (1/13) 3-month 4.91 4.93 5.53

FIXED MORTGAGE (1/8) 30-year 6.89 6.99 7.08

ADJUSTABLE MORTGAGE (1/8) one-year 5.73 5.75 5.68

PRIME (1/8) 7.75 7.75 8.50

Sources: Federal Reserve, HSH Associates, Bloomberg Financial MarketsPRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STEEL (1/9) thous. of net tons 1,843 1,787# -17.2

AUTOS (1/9) units 110,410 0# 6.9

TRUCKS (1/9) units 138,121 0# 22.3

ELECTRIC POWER (1/9) millions of kilowatt-hrs. 70,366 64,171# 13.8

CRUDE-OIL REFINING (1/9) thous. of bbl./day 15,171 15,350# 2.0

COAL (1/2) thous. of net tons 18,852# 15,104 -6.0

LUMBER (1/2) millions of ft. 263.5# 245.8 -6.8

RAIL FREIGHT (1/2) billions of ton-miles 21.5# 19.2 -6.5

Sources: American Iron & Steel Institute, Ward's Automotive Reports, Edison

Electric Institute, American Petroleum Institute, Energy Dept., WWPA1, SFPA2,

Association of American Railroads

PRICES

LATEST WEEK YEARLY

WEEK AGO % CHG

GOLD (1/13) $/troy oz. 285.450 287.650 1.0

STEEL SCRAP (1/12) #1 heavy, $/ton 84.00 84.00 -41.5

COPPER (1/8) cents/lb. 68.2 69.6 -12.8

ALUMINUM (1/8) cents/lb. 59.0 60.0 -18.4

COTTON (1/8) strict low middling 1-1/16 in.,

cents/lb. 57.57 58.47 -9.9

OIL (1/12) $/bbl. 12.72 11.85 -21.7

CRB FOODSTUFFS (1/12) 1967=100 207.98 201.63 -8.1

CRB RAW INDUSTRIALS (1/12) 1967=100 263.91 263.47 -10.7

Sources: London Wednesday final setting, Chicago market, Metals Week, Memphis

market, NYMEX, Commodity Research Bureau

FOREIGN EXCHANGE

LATEST WEEK YEAR

WEEK AGO AGO

BRAZILIAN REAL (1/13) 1.3100 1.2089 1.1184

BRITISH POUND (1/13) 1.65 1.65 1.63

CANADIAN DOLLAR (1/13) 1.53 1.51 1.43

EUROPEAN EURO (1/13) 1.1672 1.1602 NA

JAPANESE YEN (1/13) 113.57 113.15 131.19

KOREAN WON (1/13) 1174.0 1158.5 1671.0

MEXICAN PESO (1/13)3 10.510 9.770 8.178

TRADE-WEIGHTED DOLLAR INDEX (1/13) 105.4 104.6 110.9

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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