Business Week Index

      PRODUCTION INDICATORS
                                         Latest      Week   % Change
                                           week       ago    year ago
      STEEL (11/20) thous. of net tons    1,789      1,893    #   3.1
      AUTOS (11/20) units               130,208      140,808 r#   25.2
      TRUCKS (11/20) units              111,191      112,681 r#   18.4
      ELECTRIC POWER (11/20) millions 
      of kilowatt-hours                  55,290      56,072   # -1.4
      CRUDE-OIL REFINING (11/20) thous. 
      of bbl./day                           NA       13,658   #   NA
      COAL (11/13) thous. of net tons    19,294   #   19,003     -3.6
      PAPERBOARD (11/13) thous. of tons   840.7   #   831.0   r   5.9
      PAPER (11/13) thous. of tons        822.0   #   849.0   r   1.9
      LUMBER (11/13) millions of ft.      499.5   #   476.4       1.9
      RAIL FREIGHT (11/13) billions of 
      ton-miles                            23.1   #    22.8        2.7
      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 (11/23)       108      107       124
      GERMAN MARK (11/23)       1.70      1.71      1.60
      BRITISH POUND (11/23)     1.49      1.48      1.51
      FRENCH FRANC (11/23)      5.91      5.91      5.44
      CANADIAN DOLLAR (11/23)   1.33      1.32      1.29
      SWISS FRANC (11/23)       1.49      1.50      1.45
      MEXICAN PESO (11/23)3    3.100      3.215      3.110
      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 (11/23) $/troy oz.               377.600      375.000      13.0
      STEEL SCRAP (11/22) #1 heavy, $/ton    137.50       137.50      54.5
      FOODSTUFFS (11/22) index, 1967=100      222.3        220.8      9.8
      COPPER (11/20)  /lb.                     79.2         80.0      -21.2
      ALUMINUM (11/20)  /lb.                   50.5         49.5      -5.3
      WHEAT (11/20) #2 hard, $/bu.             3.95         3.66      4.8
      COTTON (11/20) strict low middling 
      1-1/16 in.,  /lb.                       56.05        56.48      10.4
      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 (11/19) S&P 500               464.30      462.46      9.9
      CORPORATE BOND YIELD, Aaa (11/19)            6.94%     6.92 %    -14.0
      INDUSTRIAL MATERIALS PRICES (11/19)          94.1      94.0       -2.5
      BUSINESS FAILURES (11/12)                      NA      341          NA
      REAL ESTATE LOANS (11/10) billions          $407.7      $405.1r    0.2
      MONEY SUPPLY, M2 (11/8) billions          $3,505.4      $3,494.6r  0.9
      INITIAL CLAIMS, UNEMPLOYMENT (11/6) thous.     358      340       -7.3
      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
      HOUSING STARTS (Oct.) annual rate, thous.          1,396      1,359   r   13.9
      BUDGET SURPLUS OR DEFICIT (-) (Oct.) millions   -$45,343      $8,300   r   -7.1
      IMPORTS (Sept.) millions                         $49,751      $48,097   r   8.2
      EXPORTS (Sept.) millions                         $38,866      $38,050   r   3.2
      Sources: Commerce Dept., Treasury Dept.
      
      MONETARY INDICATORS
                                               Latest        Week       % Change
                                                week          ago      year ago
      MONEY SUPPLY, M1 (11/8)               $1,118.4      $1,118.4   r    9.8
      BANKS' BUSINESS LOANS (11/10)            272.0         273.5       -2.8
      FREE RESERVES (11/10)                      923   r       873   r   39.4
      NONFINANCIAL COMMERCIAL PAPER (11/10)    158.8         161.0        6.6
      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 (11/22)                   3.05  %   3.02  %   3.10   %
      PRIME (11/23)                           6.00      6.00      6.00   
      COMMERCIAL PAPER 3-MONTH (11/22)        3.42      3.40      3.79   
      CERTIFICATES OF DEPOSIT 3-MONTH (11/23) 3.36      3.32      3.67   
      EURODOLLAR 3-MONTH (11/19)              3.34      3.38      3.79   
      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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