Business Week Index

      PRODUCTION INDICATORS
                                               Latest      Week    % Change
                                                 week       ago    year ago
      STEEL (8/14) thous. of net tons           1,854      1,825   #   9.3
      AUTOS (8/14) units                      103,826      92,904   r#   0.4
      TRUCKS (8/14) units                      96,938      83,478   r#   27.1
      ELECTRIC POWER (8/14) millions 
      of kilowatt-hours                        66,074      66,316   #   0.5
      CRUDE-OIL REFINING (8/14) thous. of 
      bbl./day                                 14,056      14,157   #   1.3
      COAL (8/7) thous. of net tons            17,503   #   16,603      -7.4
      PAPERBOARD (8/7) thous. of tons           821.1   #   837.8   r   1.2
      PAPER (8/7) thous. of tons                789.0   #   779.0   r   1.9
      LUMBER (8/7) millions of ft.   441.8   #   473.1      -8.6
      RAIL FREIGHT (8/7) billions of ton-miles   20.0   #   20.2      -2.9
      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 (8/18)      102      103       126
      GERMAN MARK (8/18)      1.68      1.71      1.45
      BRITISH POUND (8/18)    1.51      1.47      1.94
      FRENCH FRANC (8/18)     5.90      6.02      4.93
      CANADIAN DOLLAR (8/18)  1.32      1.30      1.19
      SWISS FRANC (8/18)      1.49      1.52      1.29
      MEXICAN PESO (8/18)3   3.120      3.120      3.100
      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 (8/18) $/troy ez.                 373.700      376.000      10.6
      STEEL SCRAP (8/17) #1 heavy, $/ton      112.50       112.50      27.1
      FOODSTUFFS (8/17) index, 1967=100        212.0        209.0      7.5
      COPPER (8/14)  /lb.                       90.0         91.5      -22.6
      ALUMINUM (8/14)  /lb.                     56.3         57.1      -6.3
      WHEAT (8/14) #2 hard, $/bu.               3.29         3.23      2.8
      COTTON (8/14) strict low middling 
      1-1/16 in.,  /lb.                         52.63       55.02      -9.4
      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 (8/13) S&P 500                 449.95      448.95      7.5
      CORPORATE BOND YIELD, Aaa (8/13)              6.92   %    7.04   %   -12.7
      INDUSTRIAL MATERIALS PRICES (8/13)            95.7        95.3      -3.1
      BUSINESS FAILURES (8/6)                        334         334      -21.2
      REAL ESTATE LOANS (8/4) billions            $403.0      $400.3   r   0.3
      MONEY SUPPLY, M2 (8/2) billions           $3,486.6    $3,482.9   r   1.3
      INITIAL CLAIMS, UNEMPLOYMENT (7/31) thous.     335         396      -16.9
      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     Month   % Change
                                                        month       ago     year ago
      CONSUMER PRICE INDEX (July)                       144.4      144.4      2.8
      PRODUCER PRICE INDEX (July) finished goods        125.1      125.3      1.3
      INDUSTRIAL PRODUCTION (July) total index          110.6      110.2   r   3.6
      CAPACITY UTILIZATION (July)                        81.5   %   81.3   %r   1.9
      Sources: BLS, Federal Reserve Board
      
      MONETARY INDICATORS
                                           Latest          Week   % Change
                                            week           ago     year ago
      MONEY SUPPLY, M1 (8/2)              $1,091.8      $1,086.3   r   13.0
      BANKS' BUSINESS LOANS (8/4)            273.9         270.4   r   -2.0
      FREE RESERVES (8/4)                      883   r       748   r   29.7
      NONFINANCIAL COMMERCIAL PAPER (8/4)    159.1         159.9      12.2
      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 (8/17)                     3.10  %   2.96  %   3.33   %
      PRIME (8/18)                             6.00      6.00      6.00   
      COMMERCIAL PAPER 3-MONTH (8/17)          3.18      3.21      3.37   
      CERTIFICATES OF DEPOSIT 3-MONTH (8/18)   3.13      3.15      3.28   
      EURODOLLAR 3-MONTH (8/13)    3.13      3.18      3.31   
      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