BUSINESS WEEK INDEX

The production index continued to climb in the week ended Sept. 12, while the

unaveraged index dipped 0.1% to 137.5, from 137.6. After seasonal adjustment,

electric power was down 3.3%, with the largest decreases of available energy

in the Mid-Atlantic and Southeast areas. Rail-freight traffic, steel, coal,

and lumber output also fell, but that was mainly because of the Labor Day

holiday. Auto, truck, and crude-oil production posted increases.

BW production index copyright 1998 Bloomberg L.P.

PRODUCTION INDICATORS
      
                                                        LATEST    WEEK       YEARLY
                                                        WEEK      AGO        % CHG
      STEEL (9/19) thous. of net tons                   1,899     2,074#     -12.0
      AUTOS (9/19) units                                114,161   106,856r#   -7.1
      TRUCKS (9/19) units                               122,921   112,797r#   -7.4
      ELECTRIC POWER (9/19) millions of kilowatt-hrs.   71,953    69,817#      3.0
      CRUDE-OIL REFINING (9/19) thous. of bbl./day      15,051    15,420#     -0.3
      COAL (9/12) thous. of net tons                    21,785#   22,698       0.8
      LUMBER (9/12) millions of ft.                     418.0#    483.3      -14.7
      RAIL FREIGHT (9/12) billions of ton-miles         25.5#     27.8        -3.4
      
      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 (9/18) S&P 500                       1020.09   1009.06     7.3
      CORPORATE BOND YIELD, Aaa (9/18)                  6.37%     6.42%      -9.5
      MONEY SUPPLY, M2 (9/7) billions                   $4,276.2  $4,252.0r   7.7
      INITIAL CLAIMS, UNEMPLOYMENT (9/11) thous.        299       314r       -3.2
      MORTGAGE APPLICATIONS, PURCHASE (9/18)            278.3     302.5      22.4
      MORTGAGE APPLICATIONS, REFINANCE (9/18)           2,269.9   2,141.9   224.5
      
      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 (9/23) $/troy oz.                            288.900   288.250   -10.5
      STEEL SCRAP (9/22) #1 heavy, $/ton                85.50     85.50     -37.8
      COPPER (9/18)  cents/lb.                          79.4      81.1      -18.6
      ALUMINUM (9/18)  cents/lb.                        64.8      66.8      -16.2
      COTTON (9/19) strict low middling
        1-1/16 in.,  cents/lb.                          71.88     71.62       1.2
      OIL (9/22) $/bbl.                                 15.54     14.45     -21.2
      CRB FOODSTUFFS (9/22) 1967=100                    223.22    221.49     -6.9
      CRB RAW INDUSTRIALS (9/22) 1967=100               277.85    280.11    -18.1
      
      Sources: London Wednesday final setting, Chicago market, Metals Week, Memphis 
      market, NYMEX, Commodity Research Bureau
      
      INTEREST RATES
                                                        LATEST    WEEK      YEAR
                                                        WEEK      AGO       AGO
      FEDERAL FUNDS (9/22)                              5.38%     5.71%     5.45%
      COMMERCIAL PAPER (9/22) 3-month                   5.31      5.33      5.52
      CERTIFICATES OF DEPOSIT (9/23) 3-month            5.42      5.43      5.59
      FIXED MORTGAGE (9/18) 30-year                     6.84      6.85      7.52
      ADJUSTABLE MORTGAGE (9/18) one-year               5.73      5.65      5.66
      PRIME (9/18)                                      8.50      8.50      8.50
      
      Sources: Federal Reserve, HSH Associates, Bloomberg Financial Markets
      
      FOREIGN EXCHANGE
      
                                                        LATEST    WEEK      YEAR
                                                        WEEK      AGO       AGO
      JAPANESE YEN (9/23)                               136.55    135.05    120.13
      GERMAN MARK (9/23)                                1.69      1.69      1.77
      BRITISH POUND (9/23)                              1.68      1.68      1.61
      FRENCH FRANC (9/23)                               5.66      5.68      5.96
      ITALIAN LIRA (9/23)                               1666.0    1673.2    1732.3
      CANADIAN DOLLAR (9/23)                            1.53      1.50      1.39
      MEXICAN PESO (9/23)3                              10.123    10.035    7.816
      TRADE-WEIGHTED DOLLAR INDEX (9/23)                111.4     110.7     106.0
      
      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.
      
      #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