The production index edged up slightly in the week ended Apr. 13. Before

calculation of the four-week moving average, the index increased a bit to

126.5, from 126.3. Seasonally adjusted output gains in trucks, lumber, and

rail-freight traffic offset declines in the production of autos and electric

power. Data on paper and paperboard were unavailable for the latest week.

The leading index will be unavailable for an indefinite period.

BW production index copyright 1996 Bloomberg L.P.

PRODUCTION INDICATORS
      
                                              LATEST     WEEK       YEARLY
                                              WEEK       AGO        % CHG
      STEEL (4/20) thous. of net tons         2,017      1,961#     -0.2
      AUTOS (4/20) units                      129,359    120,611r#  1.1
      TRUCKS (4/20) units                     123,345    112,694r#  19.3
      ELECTRIC POWER (4/20)
       millions of kilowatt-hrs.              55,508     54,928#    1.1
      CRUDE-OIL REFINING (4/20)
       thous. of bbl./day                     13,968     14,003#    -0.6
      COAL (4/13) thous. of net tons          19,134#    19,317     -1.7
      PAPERBOARD (4/13) thous. of tons        NA#        NA         NA
      PAPER (4/13) thous. of tons             NA#        NA         NA
      LUMBER (4/13) millions of ft.           440.8#     430.5      1.5
      RAIL FREIGHT (4/13)
       billions of ton-miles                  25.1#      24.5       4.1
      Sources: American Iron & Steel Institute, Ward's Automotive Reports, Edison 
      Electric Institute, American Petroleum Institute, Energy Dept., American Forest 
      & Paper Association, WWPA1, SFPA2, Association of American Railroads
      
      LEADING INDICATORS
                                           LATEST   WEEK      YEARLY
                                           WEEK     AGO       % CHG
      STOCK PRICES (4/19) S&P 500          645.07   636.71    27.5
      CORPORATE BOND YIELD, Aaa (4/19)     7.67%    7.77%     -4.4
      INDUSTRIAL MATERIALS PRICES (4/19)   110.4    110.3     -3.9
      BUSINESS FAILURES (4/12)             NA       NA        NA
      REAL ESTATE LOANS (4/10) billions    $508.5   $506.7    7.6
      MONEY SUPPLY, M2 (4/8) billions      NA       NA        NA
      INITIAL CLAIMS, UNEMPLOYMENT
       (4/6) thous.                        350      347       1.7
      Sources: Standard & Poor's, Moody's, Journal of Commerce (index: 1990=100), Dun 
      & Bradstreet (failures of large companies), Federal Reserve, Labor Dept.
      
      PRICES
                                           LATEST   WEEK      YEARLY
                                           WEEK     AGO       % CHG
      GOLD (4/24) $/troy oz.               390.800  391.100   0.1
      STEEL SCRAP (4/23) #1 heavy, $/ton   139.50   139.50    1.5
      COPPER (4/20)  cents/lb.             123.8    119.5     -9.7
      ALUMINUM (4/20)  cents/lb.           74.8     76.0      -16.9
      COTTON (4/20) strict low middling
       1-1/16 in.,  cents/lb.              84.10    86.10     -20.8
      OIL (4/23) $/bbl.                    24.38    24.30     20.2
      Sources: London Wednesday final setting, Chicago market, Metals Week, Memphis 
      market, NYMEX
      
      INTEREST RATES
                                           LATEST   WEEK      YEAR
                                           WEEK     AGO       AGO
      FEDERAL FUNDS (4/23)                 5.38%    5.17%     5.99%
      COMMERCIAL PAPER (4/24) 3-month      5.38     5.39      6.09
      CERTIFICATES OF DEPOSIT
       (4/24) 3-month                      5.34     5.36      6.09
      FIXED MORTGAGE (4/19) 30-year        8.21     8.28      8.49
      ADJUSTABLE MORTGAGE (4/19) one-year  5.93     5.92      6.36
      PRIME (4/24)                         8.25     8.25      9.00
      Sources: Federal Reserve, HSH Associates, Bloomberg Financial Markets
      
      FOREIGN EXCHANGE
                                           LATEST   WEEK      YEAR
                                           WEEK     AGO       AGO
      JAPANESE YEN (4/24)                  106.74   108.13    84.15
      GERMAN MARK (4/24)                   1.52     1.51      1.38
      BRITISH POUND (4/24)                 1.51     1.51      1.62
      FRENCH FRANC (4/24)                  5.14     5.12      4.88
      ITALIAN LIRA (4/24)                  1555.2   1575.3    1686.3
      CANADIAN DOLLAR (4/24)               1.36     1.36      1.36
      MEXICAN PESO (4/24)3                 7.433    7.425     5.900
      Sources: Major New York banks. Currencies expressed in units per U.S. dollar, 
      except for British pound in dollars
      
      #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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