The production index continued to climb in the week ended Jan. 3. The

unaveraged index was up to 132.9, from 131.6, and the monthly index for

December soared 2% to 130.3, from 127.7 in November. The auto and truck makers

were closed down for New Year's Day, but after seasonal adjustment,

rail-freight traffic was up 7.4% with big increases in carloads of lumber,

motor vehicles, and equipment. Steel and oil production were also up, but

electric power output fell 2.8%.

BW production index copyright 1998 Bloomberg L.P.

PRODUCTION INDICATORS
                                             LATEST         WEEK     YEARLY
                                              WEEK          AGO      % CHG
      
      STEEL (1/10) thous. of net tons         2,223        2,254 #    11.4
      AUTOS (1/10) units                    109,076        1,593 r#   -3.2
      TRUCKS (1/10) units                   125,339            0 #     4.3
      ELECTRIC POWER (1/10)
         millions of kilowatt-hrs.           61,852       61,946 #    -5.9
      CRUDE-OIL REFINING (1/10)
         thous. of bbl./day                  14,879       14,861 #     8.0
      COAL (1/3) thous. of net tons            NA #       17,566        NA
      LUMBER (1/3) millions of ft.            282.8 #      288.8      -5.4
      RAIL FREIGHT (1/3) billions of ton-miles 23.4 #       20.7       1.7
      
      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 (1/9) S&P 500                927.69     975.00     22.1
      CORPORATE BOND YIELD, Aaa (1/9)             6.55 %     6.70 %  -11.7
      INDUSTRIAL MATERIALS PRICES (1/9)           96.2       97.6    -11.4
      BUSINESS FAILURES (1/2)                     NA          NA       NA
      REAL ESTATE LOANS (1/1) billions            NA          NA       NA
      MONEY SUPPLY, M2 (12/29) billions       $4,034.9   $4,022.1 r    5.6
      INITIAL CLAIMS, UNEMPLOYMENT (1/3) thous.    334        314 r   -8.5
      
      Sources: Standard & Poor's, Moody's, Journal of Commerce (index: 1990=100), 
      Federal Reserve, Labor Dept.
      
      PRICES
                                             LATEST       WEEK     YEARLY
                                              WEEK        AGO      % CHG
      
      GOLD (1/14) $/troy oz.                 282.500    281.600    -20.3
      STEEL SCRAP (1/13) #1 heavy, $/ton      143.50     143.50      9.1
      COPPER (1/9)  cents/lb.                   78.2       80.0    -30.2
      ALUMINUM (1/9)  cents/lb.                 72.3       73.5     -3.6
      COTTON (1/9) strict low
           middling 1-1/16 in.,  cents/lb.     63.93      63.80     -8.8
      OIL (1/13) $/bbl.                        16.25      16.64    -34.6
      CRB FOODSTUFFS (1/13) 1967=100          226.39     231.01     -4.3
      CRB RAW INDUSTRIALS (1/13) 1967=100     295.58     304.05    -13.1
      
      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 (1/14)                   131.19    131.63     117.24
      GERMAN MARK (1/14)                      1.82      1.82       1.59
      BRITISH POUND (1/14)                    1.63      1.63       1.68
      FRENCH FRANC (1/14)                     6.11      6.10       5.37
      ITALIAN LIRA (1/14)                   1794.5    1789.5     1548.5
      CANADIAN DOLLAR (1/14)                  1.43      1.43       1.34
      MEXICAN PESO (1/14)3                   8.178     8.055      7.809
      TRADE-WEIGHTED DOLLAR INDEX (1/14)     110.9     111.0      100.2
      
      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 (1/13)                    5.42 %     5.35 %     5.14 %
      COMMERCIAL PAPER (1/13) 3-month         5.37       5.51       5.46
      CERTIFICATES OF DEPOSIT (1/14) 3-month  5.53       5.58       5.43
      FIXED MORTGAGE (1/9) 30-year            7.08       7.26       7.99
      ADJUSTABLE MORTGAGE (1/9) one-year      5.68       5.75       5.78
      PRIME (1/9)                             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