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Business Week Index


Business Week Index

BusinessWeek Index

The production index increased during the week ended Jan. 23. The unaveraged index rebounded to 143.0, a 1% advance over last week's figure of 141.6. After seasonal adjustment, steel production soared 12.6%, with a capacity-utilization rate of 81.2%--the highest it has been since Oct. 24, 1998. More moderate increases were noted in the production of autos, trucks, oil, coal, lumber, and rail-freight traffic. Only electric-power output was down.

LEADING INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STOCK PRICES (1/29) S&P 500 1279.64 1225.19 30.5

CORPORATE BOND YIELD, Aaa (1/29) 6.16% 6.17% -8.1

MONEY SUPPLY, M2 (1/18) billions $4,440.8 $4,430.8r 9.1

INITIAL CLAIMS, UNEMPLOYMENT (1/22) thous. 301 316r 0.7

MORTGAGE APPLICATIONS, PURCHASE (1/29) 272.9 278.3 7.5

MORTGAGE APPLICATIONS, REFINANCE (1/29) 1,741.7 1,572.2 -14.6

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 (2/2) 4.56% 4.84% 5.47%

COMMERCIAL PAPER (2/2) 3-month 4.76 4.75 5.44

CERTIFICATES OF DEPOSIT (2/3) 3-month 4.88 4.86 5.54

FIXED MORTGAGE (1/29) 30-year 6.84 6.87 7.25

ADJUSTABLE MORTGAGE (1/29) one-year 5.68 5.70 5.73

PRIME (1/29) 7.75 7.75 8.50

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

LATEST WEEK YEARLY

WEEK AGO % CHG

STEEL (1/30) thous. of net tons 2,011 2,002# -9.3

AUTOS (1/30) units 125,942 102,651r# 6.0

TRUCKS (1/30) units 151,923 128,357r# 10.5

ELECTRIC POWER (1/30) millions of kilowatt-hrs. 64,258 63,563# -0.4

CRUDE-OIL REFINING (1/30) thous. of bbl./day 14,223 14,175# 1.2

COAL (1/23) thous. of net tons 22,005# 21,397 -6.7

LUMBER (1/23) millions of ft. 502.0# 484.1 3.4

RAIL FREIGHT (1/23) billions of ton-miles 26.6# 25.6 -1.1

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 (2/3) $/troy oz. 286.850 283.800 -3.8

STEEL SCRAP (2/2) #1 heavy, $/ton 84.00 84.00 -42.3

COPPER (1/29) cents/lb. 68.0 69.2 -10.5

ALUMINUM (1/29) cents/lb. 59.0 59.3 -19.7

COTTON (1/29) strict low middling 1-1/16 in.,

cents/lb. 57.76 57.54 -7.3

OIL (2/2) $/bbl. 12.04 11.86 -25.4

CRB FOODSTUFFS (2/2) 1967=100 200.24 205.92 -11.9

CRB RAW INDUSTRIALS (2/2) 1967=100 262.14 262.80 -11.7

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 (2/3) 1.7800 1.9050 1.1237

BRITISH POUND (2/3) 1.64 1.65 1.66

CANADIAN DOLLAR (2/3) 1.51 1.52 1.45

EUROPEAN EURO (2/3) 1.1345 1.1454 NA

JAPANESE YEN (2/3) 112.34 115.75 123.70

KOREAN WON (2/3) 1170.0 1176.1 1608.0

MEXICAN PESO (2/3)3 10.108 10.165 8.425

TRADE-WEIGHTED DOLLAR INDEX (2/3) 106.0 106.5 108.8

Sources: Major New York banks. Currencies expressed in units per U.S. dollar,

except for British Pound and European Euro 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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