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Business Week Index


Business Week Index

BusinessWeek Index

The production index was up in the week ended Mar. 20. The unaveraged indexrose 1%, to 143.9, from 142.5 in the previous week. After seasonal adjustment,rail-freight traffic was up 2.9%, with gains reported in loadings of crushedstone, gravel, and sand. Steel output increased by 4% with the utilizationrate up to 80.8%. Auto, truck, and coal production also posted gains. On thedownside, electricity, oil, and lumber showed declines.LEADING INDICATORS LATEST WEEK YEARLY WEEK AGO % CHGECRI LEADING INDEX (3/19) 1992=100 121.2 120.3 0.7STOCK PRICES (3/26) S&P 500 1282.80 1299.29 17.1CORPORATE BOND YIELD, Aaa (3/26) 6.67% 6.58% -0.3MONEY SUPPLY, M2 (3/15) billions $4,443.8 $4,441.0 7.5INITIAL CLAIMS, UNEMPLOYMENT (3/19) thous. 289 299r -7.7MORTGAGE APPLICATIONS, PURCHASE (3/26) 263.2 259.4 18.5MORTGAGE APPLICATIONS, REFINANCE (3/26) 1,177.2 1,332.6 -9.2Sources: Economic Cycle Research Institute, Standard & Poor's, Moody's,Federal Reserve, Labor Dept., Mortgage Bankers Assn. (Index: March 16,1990=100)INTEREST RATES LATEST WEEK YEAR WEEK AGO AGOFEDERAL FUNDS (3/30) 4.77% 4.79% 5.88%COMMERCIAL PAPER (3/30) 3-month 4.82 4.81 5.50CERTIFICATES OF DEPOSIT (3/31) 3-month 4.90 4.90 5.60FIXED MORTGAGE (3/26) 30-year 7.05 7.03 7.17ADJUSTABLE MORTGAGE (3/26) one-year 5.73 5.83 5.77PRIME (3/26) 7.75 7.75 8.50Sources: Federal Reserve, HSH Associates, Bloomberg Financial MarketsPRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STEEL (3/27) thous. of net tons 1,972 1,992# -12.2

AUTOS (3/27) units 125,158 125,546r# -1.6

TRUCKS (3/27) units 163,621 154,589r# 9.6

ELECTRIC POWER (3/27)

millions of kilowatt-hrs. 60,520 62,379# 1.5

CRUDE-OIL REFINING (3/27) thous. of bbl./day 14,549 14,083# -0.4

COAL (3/20) thous. of net tons 21,363# 20,657 -2.5

LUMBER (3/20) millions of ft. 517.8# 527.7 7.5

RAIL FREIGHT (3/20) billions of ton-miles 26.6# 25.8 2.3

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 (3/31) $/troy oz. 279.450 284.250 -7.2

STEEL SCRAP (3/30) #1 heavy, $/ton 77.00 78.00 -43.2

COPPER (3/26) cents/lb. 68.3 64.9 -17.1

ALUMINUM (3/26) cents/lb. 61.5 57.8 -11.5

COTTON (3/26) strict

low middling 1-1/16 in., cents/lb. 61.53 60.56 -8.8

OIL (3/30) $/bbl. 16.60 15.17 8.3

CRB FOODSTUFFS (3/30) 1967=100 190.29 192.94 -17.0

CRB RAW INDUSTRIALS (3/30) 1967=100 257.81 258.20 -14.2

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 (3/31) 1.7175 1.8400 1.1371

BRITISH POUND (3/31) 1.61 1.63 1.67

CANADIAN DOLLAR (3/31) 1.51 1.51 1.42

EUROPEAN EURO (3/31) 1.0800 1.0870 NA

JAPANESE YEN (3/31) 118.46 118.08 133.63

KOREAN WON (3/31) 1227.0 1222.6 1390.5

MEXICAN PESO (3/31)3 9.515 9.675 8.505

TRADE-WEIGHTED DOLLAR INDEX (3/31) 109.3 108.4 111.5

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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