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Business Week Index


Business Week Index

BusinessWeek Index

The production index increased slightly during the week ended Mar. 27. Butbefore calculation of the four-week moving average, the index slipped to143.2, from 143.9 in the previous week, as the factory sector continues tostagnate. On a seasonally adjusted basis, production of autos, trucks, steel,crude-oil refining, coal, and electric power were down. Rail-freight trafficand lumber production increased.LEADING INDICATORS LATEST WEEK YEARLY WEEK AGO % CHGECRI LEADING INDEX (3/26) 1992=100 121.5 121.1r 0.8STOCK PRICES (4/2) S&P 500 1293.72 1282.80 15.2CORPORATE BOND YIELD, Aaa (4/2) 6.68% 6.67% 0.1MONEY SUPPLY, M2 (3/22) billions $4,464.0 $4,443.8r 8.0INITIAL CLAIMS, UNEMPLOYMENT (3/26) thous. 289 295r -5.9MORTGAGE APPLICATIONS, PURCHASE (4/2) 269.0 263.2 8.1MORTGAGE APPLICATIONS, REFINANCE (4/2) 1,086.2 1,177.2 -10.0Sources: 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 (4/6) 4.70% 4.77% 5.40%COMMERCIAL PAPER (4/6) 3-month 4.82 4.82 5.45CERTIFICATES OF DEPOSIT (4/7) 3-month 4.88 4.90 5.56FIXED MORTGAGE (4/2) 30-year 7.09 7.05 7.23ADJUSTABLE MORTGAGE (4/2) one-year 5.75 5.73 5.79PRIME (4/7) 7.75 7.75 8.50Sources: Federal Reserve, HSH Associates, Bloomberg Financial MarketsPRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STEEL (4/3) thous. of net tons 2,051 1,972# -7.7

AUTOS (4/3) units 100,853 123,132r# -14.9

TRUCKS (4/3) units 121,585 160,559r# -20.2

ELECTRIC POWER (4/3) millions of kilowatt-hrs. 58,622 60,520 -0.1

CRUDE-OIL REFINING (4/3) thous. of bbl./day 14,640 14,549 0.0

COAL (3/27) thous. of net tons 21,597# 21,363 -2.4

LUMBER (3/27) millions of ft. 535.3# 517.8 12.5

RAIL FREIGHT (3/27) billions of ton-miles 27.2# 26.6 1.9

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 (4/7) $/troy oz. 280.150 279.450 -9.3

STEEL SCRAP (4/6) #1 heavy, $/ton 76.80 77.00 -42.9

COPPER (4/2) cents/lb. 64.6 68.3 -20.1

ALUMINUM (4/2) cents/lb. 58.7 61.5 -14.8

COTTON (4/2) strict low middling 1-1/16 in., cents/lb. 59.98 61.53 -8.0

OIL (4/6) $/bbl. 16.62 16.60 11.3

CRB FOODSTUFFS (4/6) 1967=100 186.11 190.29 -18.6

CRB RAW INDUSTRIALS (4/6) 1967=100 255.85 257.81 -14.3

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

market, NYMEX, Commodity Research Bureau

FOREIGN EXCHANGE

LATEST WEEK YEARLY

WEEK AGO % CHG

BRAZILIAN REAL (4/7) 1.7325 1.7175 1.1394

BRITISH POUND (4/7) 1.60 1.61 1.67

CANADIAN DOLLAR (4/7) 1.50 1.51 1.42

EUROPEAN EURO (4/7) 1.0798 1.0800 NA

JAPANESE YEN (4/7) 121.14 118.46 131.21

KOREAN WON (4/7) 1222.6 1227.0 1410.0

MEXICAN PESO (4/7)3 9.505 9.515 8.510

TRADE-WEIGHTED DOLLAR INDEX (4/7) 110.1 109.3 110.8

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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