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Business Week Index


Business Week Index

BusinessWeek Index

The production index dipped in the week ended May 2, and so did the unaveragedindex which fell 0.3%, to 132.4 from 132.8. After seasonal adjustment, coalproduction was up 3.8%, with large increases in output in Utah and Colorado.Production of steel, oil, and trucks also increased, as did rail-freighttraffic. Auto output posted a 10.7% decrease, and electricity and lumberproduction were also down. The index for April was 132.5, up 1.1%, from March.PRODUCTION INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STEEL (5/9) thous. of net tons 2,193 2,228 # 4.6

AUTOS (5/9) units 120,832 112,987 r# -2.8

TRUCKS (5/9) units 148,684 148,118 r# 32.5

ELECTRIC POWER (5/9)

millions of kilowatt-hrs. 58,363 56,601 # 3.0

CRUDE-OIL REFINING (5/9)

thous. of bbl./day 14,920 15,265 # 1.2

COAL (5/2) thous. of net tons 21,876 # 21,164 1.6

LUMBER (5/2) millions of ft. 494.1 # 496.3 -0.9

RAIL FREIGHT (5/2)

billions of ton-miles 27.8 # 27.4 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

LEADING INDICATORS

LATEST WEEK YEARLY

WEEK AGO % CHG

STOCK PRICES (5/8) S&P 500 1108.14 1121.00 34.4

CORPORATE BOND YIELD, Aaa (5/8) 6.72 % 6.78 % -11.1

MONEY SUPPLY, M2 (4/27) billions $4,162.5 $4,171.6 r 7.0

INITIAL CLAIMS, UNEMPLOYMENT (5/2) thous. 308 319 r -11.2

MORTGAGE APPLICATIONS, PURCHASE (5/8) 279.2 282.5 36.1

MORTGAGE APPLICATIONS, REFINANCE (5/8) 1,297.0 1,326.5 327.5

Sources: Standard & Poor's, Moody's, Federal Reserve, Labor Dept., Mortgage

Bankers Assn. (Index: March 16, 1990=100)

PRICES

LATEST WEEK YEARLY

WEEK AGO % CHG

GOLD (5/13) $/troy oz. 299.100 301.000 -14.3

STEEL SCRAP (5/12) #1 heavy, $/ton 135.50 133.50 -2.2

COPPER (5/8) cents/lb. 85.0 87.6 -24.8

ALUMINUM (5/8) cents/lb. 68.5 70.0 -13.1

COTTON (5/9) strict low middling

1-1/16 in., cents/lb. 63.71 63.42 -7.4

OIL (5/12) $/bbl. 15.16 15.36 -27.5

CRB FOODSTUFFS (5/12) 1967=100 239.07 239.98 -0.1

CRB RAW INDUSTRIALS (5/12) 1967=100 304.79 306.08 -9.9

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

market, NYMEX, Commodity Research Bureau

FOREIGN EXCHANGE

LATEST WEEK YEAR

WEEK AGO AGO

JAPANESE YEN (5/13) 134.10 132.75 118.45

GERMAN MARK (5/13) 1.78 1.77 1.70

BRITISH POUND (5/13) 1.63 1.66 1.64

FRENCH FRANC (5/13) 5.96 5.92 5.72

ITALIAN LIRA (5/13) 1754.0 1741.8 1674.0

CANADIAN DOLLAR (5/13) 1.44 1.44 1.39

MEXICAN PESO (5/13)3 8.516 8.475 7.892

TRADE-WEIGHTED DOLLAR INDEX (5/13) 110.9 110.0 103.9

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.

INTEREST RATES

LATEST WEEK YEAR

WEEK AGO AGO

FEDERAL FUNDS (5/12) 5.54 % 5.22 % 5.42 %

COMMERCIAL PAPER (5/12) 3-month 5.50 5.50 5.69

CERTIFICATES OF DEPOSIT (5/13) 3-month 5.59 5.58 5.70

FIXED MORTGAGE (5/8) 30-year 7.18 7.28 8.08

ADJUSTABLE MORTGAGE (5/8) one-year 5.80 5.80 6.04

PRIME (5/8) 8.50 8.50 8.50

Sources: Federal Reserve, HSH Associates, Bloomberg Financial Markets

BW production index copyright 1998 Bloomberg L.P.

#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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