The production index was unchanged during the week ended Feb. 15. That's

another sign that the industrial sector is slowing down this quarter. Before

calculation of the four-week moving average, the index fell slightly to 135.5,

from 135.7 in the previous week. On a seasonally adjusted basis, increases in

auto, electric power, steel, and lumber production nearly offset the declines

in the output of trucks and coal and rail-freight traffic.

BW production index copyright 1997 Bloomberg L.P.

PRODUCTION INDICATORS
                                      LATEST          WEEK        YEARLY
                                      WEEK            AGO         % CHG
      STEEL (2/22) thous. of net tons 2,115           2,078#       0.8
      AUTOS (2/22) units              132,444         127,374r#   -3.0
      TRUCKS (2/22) units             135,930         126,482r#    10.2
      ELECTRIC POWER (2/22) millions  61,026          65,844#      1.9
       of kilowatt-hrs.
      CRUDE-OIL REFINING (2/22)       13,422          13,392#     -0.8
       thous. of bbl./day
      COAL (2/15) thous. of net tons  20,817#         21,398      -2.6
      LUMBER (2/15) millions of ft.   513.6#          496.9        17.9
      RAIL FREIGHT (2/15) billions of 27.1#           27.2         1.9
       ton-miles
      
      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 (2/21) S&P 500             801.77          808.48          23.0
      CORPORATE BOND YIELD, Aaa (2/21)        7.23%           7.26%           1.4
      INDUSTRIAL MATERIALS PRICES (2/21)      108.2           108.0          -1.9
      BUSINESS FAILURES (2/14)                NA              NA              NA
      REAL ESTATE LOANS (2/12) billions       NA              NA              NA
      MONEY SUPPLY, M2 (2/10) billions        $3,859.7        $3,860.2r       4.7
      INITIAL CLAIMS, UNEMPLOYMENT (2/15)     309             308r           -18.3
       thous.
      
      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 (2/26) $/troy oz.                  354.800      346.250    -10.8
      STEEL SCRAP (2/21)#1 heavy, $/ton       145.50       146.50      0.7
      COPPER (2/21)  cents/lb.                115.4        111.5      -4.2
      ALUMINUM (2/21)  cents/lb.              76.0         74.8        0.0
      COTTON (2/22) strict low middling       69.75        69.98      -14.2
       1-1/16 in.,  cents/lb.
      OIL (2/25) $/bbl.                       20.45        22.14       4.2
      CRB FOODSTUFFS (2/25) 1967=100          241.98       238.28      3.5
      CRB RAW INDUSTRIALS (2/25) 1967=100     345.06       345.19      4.9
      
      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 (2/26)                  122.61       124.39      104.44
      GERMAN MARK (2/26)                   1.69         1.70        1.47
      BRITISH POUND (2/26)                 1.63         1.61        1.53
      FRENCH FRANC (2/26)                  5.71         5.74        5.02
      ITALIAN LIRA (2/26)                  1681.5       1690.4      1547.5
      CANADIAN DOLLAR (2/26)               1.37         1.36        1.37
      MEXICAN PESO (2/26)3                 7.782        7.777       7.545
      TRADE-WEIGHTED DOLLAR INDEX (2/26)   104.3        105.0       95
      
      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 (2/25)                      5.28%     5.55%    5.20%
      COMMERCIAL PAPER (2/26) 3-month           5.39      5.38     5.16
      CERTIFICATES OF DEPOSIT (2/26) 3-month    5.35      5.34     5.16
      FIXED MORTGAGE (2/21) 30-year             7.74      7.85     7.24
      ADJUSTABLE MORTGAGE (2/21) one-year       5.65      5.81     5.39
      PRIME (2/18)                              8.25      8.25     8.25
      
      Sources: American Iron & Steel Institute, Ward's Automotive Reports, Edison 
      Electric Institute, American Petroleum Institute, Energy Dept., WWPA1, SFPA2, 
      Association of American Railroads
      
      #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.    ***=Free market value   NA=Not available   r=revised   NM=Not 
      meaningful
      
Before it's here, it's on the Bloomberg Terminal. LEARN MORE