Business Week Index

      PRODUCTION INDICATORS
                                         Latest   Week   % Change
                                         week    ago    year ago
      
      STEEL (6/12) thous. of net tons     1,808      1,864   #   2.6
      AUTOS (6/12) units                125,627      108,667   r#   -3.8
      TRUCKS (6/12) units               100,504      83,415   r#   15.2
      ELECTRIC POWER (6/12) millions of 
         kilowatt-hours                  59,920      53,612   #   2.9
      CRUDE-OIL REFINING (6/12) thous. 
         of bbl./day                     14,165      13,962   #   1.5
      COAL (6/5) thous. of net tons      16,957   #   18,771      -9.4
      PAPERBOARD (6/5) thous. of tons     812.9   #   812.2   r   1.1
      PAPER (6/5) thous. of tons          795.0   #   784.0   r   1.0
      LUMBER (6/5) millions of ft.        363.4   #   462.9      -26.6
      RAIL FREIGHT (6/5) billions of 
         ton-miles                         19.1   #   21.7      -8.6
      Sources: American Iron & Steel Institute, Ward's Automotive Reports, Edison 
      Electric Institute, American Petroleum Institute, Energy Dept., American Paper 
      Institute, WWPA1, SFPA2, Association of American Railroads
      
      FOREIGN EXCHANGE
                                           Latest     Week      Year
                                            week      ago        ago
      JAPANESE YEN (6/16)                   107       107       127
      GERMAN MARK (6/16)                   1.66      1.64      1.57
      BRITISH POUND (6/16)                 1.50      1.51      1.86
      FRENCH FRANC (6/16)                  5.57      5.50      5.29
      CANADIAN DOLLAR (6/16)               1.28      1.28      1.20
      SWISS FRANC (6/16)                   1.48      1.47      1.42
      MEXICAN PESO (6/16)3                3.117      3.131      3.093
      Sources: Major New York banks. Currencies expressed in units per U.S. dollar, 
      except for British pound expressed in dollars
      
      PRICES
                                           Latest     Week      % Change
                                            week      ago       year ago
      GOLD (6/16) $/troy oz.            368.000      371.450      7.6
      STEEL SCRAP (6/15) #1 heavy, $/ton 111.50      111.50      26.0
      FOODSTUFFS (6/15) index, 1967=100   202.7      202.3      0.9
      COPPER (6/12)  /lb.                  88.3      87.9      -17.0
      ALUMINUM (6/12)  /lb.                54.3      52.8      -8.1
      WHEAT (6/12) #2 hard, $/bu.          3.44      3.32      -17.3
      COTTON (6/12) strict low middling 
         1-1/16 in.,  /lb.                55.97      56.12      -4.0
      Sources: London Wednesday final setting, Chicago market, Commodity Research 
      Bureau, Metals Week, Kansas City market, Memphis market
      
      LEADING INDICATORS
                                           Latest     Week   % Change
                                            week      ago      year ago
      
      STOCK PRICES (6/11) S&P 500        446.16      451.34      8.8
      CORPORATE BOND YIELD, Aaa (6/11)     7.38 %   7.38 %     -10.7
      INDUSTRIAL MATERIALS PRICES (6/11)   95.9      95.5       -2.5
      BUSINESS FAILURES (6/4)               362      360       -16.8
      REAL ESTATE LOANS (6/2) billions   $398.6      $396.4   r -1.6
      MONEY SUPPLY, M2 (5/31) billions $3,476.3      $3,466.9   1.1
      INITIAL CLAIMS, UNEMPLOYMENT (5/29) 
         thous.                             347      339      -15.2
      Sources: Standard & Poor's, Moody's, Journal of Commerce (index: 1980=100), Dun 
      & Bradstreet (failures of large companies), Federal Reserve Board, Labor Dept. 
      CIBCR seasonally adjusts data on business failures and real estate loans
      
      MONTHLY ECONOMIC INDICATORS
                                           Latest     Week   % Change
                                            week      ago      year ago
      
      INDUSTRIAL PRODUCTION (May) total 
         index                            110.4      110.2   r   3.5
      CAPACITY UTILIZATION (May)           81.6 %    81.6 %r     1.9
      HOUSING STARTS (May) annual rate, 
         thous.                           1,244      1,215   r   3.9
      CONSUMER PRICE INDEX (May)          144.2      144.0       3.2
      Sources: Federal Reserve Board, Commerce Dept., BLS
      
      MONETARY INDICATORS
                                           Latest     Week   % Change
                                            week      ago      year ago
      
      MONEY SUPPLY, M1 (5/31)            $1,074.9      $1,065.3  12.2
      BANKS' BUSINESS LOANS (6/2)           277.2      275.9   r -3.0
      FREE RESERVES (6/9)                     793      1,098   r 146.3
      NONFINANCIAL COMMERCIAL PAPER (6/2)   158.1      158.3      9.6
      Sources: Federal Reserve Board (in billions, except for free reserves, which 
      are expressed for a two-week period in millions)
      
      MONEY MARKET RATES
                                           Latest     Week     Year
                                            week      ago      ago
      FEDERAL FUNDS (6/15)                  3.14 %   2.72 %   3.73 %
      PRIME (6/16)                          6.00      6.00      6.50   
      COMMERCIAL PAPER 3-MONTH (6/15)       3.24      3.28      3.91   
      CERTIFICATES OF DEPOSIT 3-MONTH 
         (6/16)                             3.17      3.26      3.83   
      EURODOLLAR 3-MONTH (6/11)             3.25      3.21      3.86   
      Sources: Federal Reserve Board, First Boston
      
      #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