PRODUCTION INDEX

The production index slipped in the week ended Nov. 8. Before calculation of

the four-week moving average, the index climbed 1.1% to 126.9 from 125.5 a week

ago. After seasonal adjustment, output of electricity, oil, and lumber were

down. Auto production posted a 7.1% gain, and trucks were up by 6.7%. Large

weekly increases were noted for the Dodge Intrepid (54.8%), Pontiac Grand Prix

(31.6%), Oldsmobile Intrigue (28.7%), and Dodge Viper (23.7%). Steel, coal, and

rail-freight traffic were also up.

BW production index copyright 1997 Bloomberg L.P.

PRODUCTION INDICATORS
                                                 LATEST        WEEK     YEARLY
                                                  WEEK         AGO       % CHG
      STEEL (11/15) thous. of net tons             2,160      2,189 #     12.6
      AUTOS (11/15) units                        133,052    134,283 r#     6.6
      TRUCKS (11/15) units                       143,023    147,725 r#    18.2
      ELECTRIC POWER (11/15)
         millions of kilowatt-hrs.                62,582     60,970 #      0.8
      CRUDE-OIL REFINING
         (11/15) thous. of bbl./day               14,418     14,477 #      1.8
      COAL (11/8) thous. of net tons              20,999 #   20,591        1.0
      LUMBER (11/8) millions of ft.                455.8 #    460.7       -6.2
      RAIL FREIGHT (11/8) billions of ton-miles     27.2 #     27.2       -1.4
      
      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 (11/14) S&P 500                 928.35      927.51     25.9
      CORPORATE BOND YIELD, Aaa (11/14)              6.89 %      6.93 %   -2.7
      INDUSTRIAL MATERIALS PRICES (11/14)           103.3       104.1     -2.4
      BUSINESS FAILURES (11/7)                       NA           NA       NA
      REAL ESTATE LOANS (11/5) billions              NA           NA       NA
      MONEY SUPPLY, M2 (11/3) billions           $3,993.1    $3,977.4 r    5.3
      INITIAL CLAIMS, UNEMPLOYMENT (11/8) thous.      310         316     -6.6
      
      Sources: Standard & Poor's, Moody's, Journal of Commerce (index: 1990=100), 
      Federal Reserve, Labor Dept.
      
      PRICES
                                              LATEST          WEEK        YEARLY
                                               WEEK            AGO        % CHG
      GOLD (11/19) $/troy oz.                 305.950        308.150      -19.3
      STEEL SCRAP (11/18) #1 heavy, $/ton      143.50         143.50       23.2
      COPPER (11/14)  cents/lb.                  92.4           93.3       -9.9
      ALUMINUM (11/14)  cents/lb.                79.0           78.0       14.8
      COTTON (11/14) strict
        low middling 1-1/16 in.,  cents/lb.     68.69          70.12       -0.4
      OIL (11/18) $/bbl.                        19.71          20.21      -20.0
      CRB FOODSTUFFS (11/18) 1967=100          251.52         251.58       11.1
      CRB RAW INDUSTRIALS (11/18) 1967=100    327.42          328.74       -1.1
      
      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 (11/19)                   127.37       126.06     111.23
      GERMAN MARK (11/19)                      1.73         1.73       1.50
      BRITISH POUND (11/19)                    1.69         1.70       1.68
      FRENCH FRANC (11/19)                     5.80         5.78       5.07
      ITALIAN LIRA (11/19)                   1696.8       1688.5     1498.2
      CANADIAN DOLLAR (11/19)                  1.42         1.41       1.34
      MEXICAN PESO (11/19)3                   8.280        8.340      7.887
      TRADE-WEIGHTED DOLLAR INDEX (11/19)     107.2        106.5       96.8
      
      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 (11/18)                   5.45 %      5.50 %      5.29 %
      COMMERCIAL PAPER (11/18) 3-month        5.66        5.60        5.41
      CERTIFICATES OF DEPOSIT (11/19) 3-month 5.77        5.77        5.38
      FIXED MORTGAGE (11/14) 30-year          7.37        7.38        7.79
      ADJUSTABLE MORTGAGE (11/14) one-year    5.68        5.65        5.72
      PRIME (11/14)                           8.50        8.50        8.25
      
      Sources: Federal Reserve, HSH Associates, Bloomberg Financial Markets
      
      #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
      
Before it's here, it's on the Bloomberg Terminal. LEARN MORE