Business Week Index

PRODUCTION INDICATORS
                                                       Latest     Week   % Change
                                                         week     ago    year ago
      STEEL (9/11) thous. of net tons                   1,843    1,822#    13.3
      AUTOS (9/11) units                               80,618    94,804r# -10.0
      TRUCKS (9/11) units                              75,994    89,975r#  15.9
      ELECTRIC POWER (9/11) millions of kilowatt-hours 59,477    67,464#   -0.7
      CRUDE-OIL REFINING (9/11) thous. of bbl./day     13,826    13,791#   -0.3
      COAL (9/4) thous. of net tons                    18,974#   18,468    -1.5
      PAPERBOARD (9/4) thous. of tons                   820.9#   829.1r     1.6
      PAPER (9/4) thous. of tons                        825.0#   803.0r     1.6
      LUMBER (9/4) millions of ft.                      444.0#   440.6     -7.0
      RAIL FREIGHT (9/4) billions of ton-miles           21.5#    21.2     -1.4
      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 (9/15)       106       105       124
      GERMAN MARK (9/15)        1.59      1.61      1.50
      BRITISH POUND (9/15)      1.55      1.54      1.76
      FRENCH FRANC (9/15)       5.54      5.67      5.12
      CANADIAN DOLLAR (9/15)    1.31      1.32      1.22
      SWISS FRANC (9/15)        1.38      1.42      1.30
      MEXICAN PESO (9/15)3      3.110     3.112     3.102
      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 (9/15) $/troy oz.                                 348.000  351.750   -0.3
      STEEL SCRAP (9/14) #1 heavy, $/ton                     112.50   112.50    20.3
      FOODSTUFFS (9/14) index, 1967=100                      212.3    212.6      7.2
      COPPER (9/11) cents/lb.                                 90.5     90.7    -20.3
      ALUMINUM (9/11) cents/lb.                               53.9     54.4     -7.9
      WHEAT (9/11) #2 hard, $/bu.                              3.34     3.36    -5.6
      COTTON (9/11) strict low middling 1-1/16 in., cents/lb. 53.55    52.64    -1.0
      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 (9/10) S&P 500                 458.60    462.25     9.8
      CORPORATE BOND YIELD, Aaa (9/10)              6.51%     6.61%  -17.3
      INDUSTRIAL MATERIALS PRICES (9/10)           94.9      95.5     -5.2
      BUSINESS FAILURES (9/3)                     366       306       -8.5
      REAL ESTATE LOANS (9/1) billions           $403.1    $400.3      0.5
      MONEY SUPPLY, M2 (8/30) billions         $3,489.1  $3,494.4r     1.1
      INITIAL CLAIMS, UNEMPLOYMENT (8/28) thous.  324       331      -17.8
      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
      12 LEADING INDICATORS COMPOSITE (July) index   151.5       151.6r    1.7
      MANUFACTURERS' INVENTORIES (July) billions    $381.4      $381.3r   -0.5
      MANUFACTURING SHIPMENTS (July) billions       $251.5      $258.3     2.1
      PURCHASING MANAGERS' INDEX (Aug.)               49.3%       49.5%   -5.6
      Sources: Commerce Dept., National Association of Purchasing Management
      
      
MONETARY INDICATORS
                                                  Latest        Week%     Change
                                                    week        ago      year ago
      MONEY SUPPLY, M1 (8/30)                   $1,097.9      $1,096.2r     12.3
      BANKS' BUSINESS LOANS (9/1)                  269.7         268.3      -2.6
      FREE RESERVES (9/1)                          820r          319r        1.4
      NONFINANCIAL COMMERCIAL PAPER (9/1)          158.0         158.2      12.5
      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 (9/14)                      3.00%     3.11%     3.28%
      PRIME (9/15)                              6.00      6.00      6.00   
      COMMERCIAL PAPER 3-MONTH (9/14)           3.16      3.13      2.90   
      CERTIFICATES OF DEPOSIT 3-MONTH (9/15)    3.14      3.09      3.07   
      EURODOLLAR 3-MONTH (9/10)                 3.06      3.11      3.08   
      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
      
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