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Business Week Index


Business Week Index

BusinessWeek Index

The production index fell in the week that ended Feb. 20. The unaveraged index stayed at 141.7 for the third week in a row. After seasonal adjustment, rail-freight traffic dipped with car loadings of steel, metallic ore, and metal products down. Truck and oil production also declined. On the upside, electric power advanced 2.8%, with the largest increase in available electricity in the Southeast. Output of steel, autos, coal, and lumber were also up.

LEADING INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STOCK PRICES (2/26) S&P 500 1238.33 1239.19 18.0

CORPORATE BOND YIELD, Aaa (2/26) 6.59% 6.40% -1.8

MONEY SUPPLY, M2 (2/15) billions $4,443.4 $4,429.9r 8.4

INITIAL CLAIMS, UNEMPLOYMENT (2/19) thous. 293 298r -8.2

MORTGAGE APPLICATIONS, PURCHASE (2/26) 269.8 231.7 24.2

MORTGAGE APPLICATIONS, REFINANCE (2/26) 1,512.8 1,324.2 -0.9

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 (3/2) 4.73% 4.73% 5.51%

COMMERCIAL PAPER (3/2) 3-month 4.83 4.81 5.45

CERTIFICATES OF DEPOSIT (3/3) 3-month 4.93 4.91 5.59

FIXED MORTGAGE (2/26) 30-year 6.99 6.96 7.22

ADJUSTABLE MORTGAGE (2/26) one-year 5.73 5.72 5.76

PRIME (2/26) 7.75 7.75 8.50

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

LATEST WEEK YEARLY

WEEK AGO % CHG

STEEL (2/27) thous. of net tons 2,024 1,973# -11.7

AUTOS (2/27) units 118,683 117,623r# 6.8

TRUCKS (2/27) units 137,667 155,518r# -6.4

ELECTRIC POWER (2/27) millions of kilowatt-hrs. 66,347 64,404# 8.2

CRUDE-OIL REFINING (2/27) thous. of bbl./day 14,522 14,309# 4.9

COAL (2/20) thous. of net tons 22,695# 22,344 0.1

LUMBER (2/20) millions of ft. 511.5# 509.3 6.2

RAIL FREIGHT (2/20) billions of ton-miles 27.0# 27.0 2.7

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 (3/3) $/troy oz. 285.950 287.400 -3.6

STEEL SCRAP (3/2) #1 heavy, $/ton 78.00 79.50 -44.5

COPPER (2/26) cents/lb. 66.0 65.7 -15.1

ALUMINUM (2/26) cents/lb. 57.0 57.5 -17.2

COTTON (2/26) strict

low middling 1-1/16 in., cents/lb. 56.55 56.02 -11.2

OIL (3/2) $/bbl. 12.22 11.98 -19.2

CRB FOODSTUFFS (3/2) 1967=100 187.47 197.31 -15.4

CRB RAW INDUSTRIALS (3/2) 1967=100 252.26 255.25 -16.7

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 (3/3) 2.1900 2.0400 1.1310

BRITISH POUND (3/3) 1.61 1.60 1.65

CANADIAN DOLLAR (3/3) 1.53 1.50 1.42

EUROPEAN EURO (3/3) 1.0879 1.1007 NA

JAPANESE YEN (3/3) 121.71 121.44 126.63

KOREAN WON (3/3) 1229.0 1217.5 1564.0

MEXICAN PESO (3/3)3 9.963 9.923 8.575

TRADE-WEIGHTED DOLLAR INDEX (3/3) 110.3 109.5 109.3

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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