Business Week Index

      PRODUCTION INDICATORS
                                        Latest       Week     % Change
                                         week        ago      year ago
      STEEL (12/11) thous. of net tons   1,850      1,856   #      9.2
      AUTOS (12/11) units              148,301      149,084   r#   6.4
      TRUCKS (12/11) units             110,404      112,054   r#   11.6
      ELECTRIC POWER (12/11) millions 
      of kilowatt-hours                 57,784      57,218   #     -5.4
      CRUDE-OIL REFINING (12/11) 
      thous. of bbl./day                13,693      13,846   #     4.1
      COAL (12/4) thous. of net tons    18,207   #   15,110       -8.4
      PAPERBOARD (12/4) thous. of tons   819.4   #   832.1   r     1.5
      PAPER (12/4) thous. of tons        801.0   #   811.0   r     2.4
      LUMBER (12/4) millions of ft.      467.2   #   309.4        -3.6
      RAIL FREIGHT (12/4) billions of 
      ton-miles                           22.8   #   17.8          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 (12/15)       110      109       123
      GERMAN MARK (12/15)       1.71      1.71      1.57
      BRITISH POUND (12/15)     1.48      1.49      1.57
      FRENCH FRANC (12/15)      5.86      5.87      5.35
      CANADIAN DOLLAR (12/15)   1.33      1.32      1.27
      SWISS FRANC (12/15)       1.47      1.47      1.41
      MEXICAN PESO (12/15)3    3.113      3.104      3.118
      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 (12/15) $/troy oz.                  385.600      382.300     14.3
      STEEL SCRAP (12/14) #1 heavy, $/ton       139.00      137.50      50.3
      FOODSTUFFS (12/14) index, 1967=100         221.7      222.3        8.7
      COPPER (12/11)  /lb.                        82.0      74.5       -20.4
      ALUMINUM (12/11)  /lb.                      52.3      50.8        -4.1
      WHEAT (12/11) #2 hard, $/bu.                3.93      3.85        4.0
      COTTON (12/11) strict low middling
      1-1/16 in.,  /lb.                          69.95      59.14       33.0
      Sources: London Wednesday final setting, Chicago market, Commodity Research 
      Bureau, Metals Week, Kansas City market, Memphis market
      
      LEADING INDICATORS
                                                  Latest       Month    % Change
                                                  month        ago      year ago
      STOCK PRICES (12/10) S&P 500               465.52      462.80        7.0
      CORPORATE BOND YIELD, Aaa (12/10)           6.86%       6.95%      -14.3
      INDUSTRIAL MATERIALS PRICES (12/10)          93.5        93.4       -3.6
      BUSINESS FAILURES (11/29)                     360         320      -21.2
      REAL ESTATE LOANS (11/27) billions         $408.4      $405.7   r    1.1
      MONEY SUPPLY, M2 (11/25) billions        $3,513.4      $3,513.8   r  1.4
      INITIAL CLAIMS, UNEMPLOYMENT (11/23) 
      thous.                                        322          338      -0.9
      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 (Nov.)                   145.8      145.5      2.7
      RETAIL SALES (Nov.) billions                 $178.9      $178.2r    7.1
      INDUSTRIAL PRODUCTION (Nov.) total index      113.2      112.2      4.4
      CAPACITY UTILIZATION (Nov.)                   83.0%       82.4%     2.7
      Sources: BLS, Census Bureau, Federal Reserve Board
      
      MONETARY INDICATORS
                                               Latest    Week     % Change
                                               week       ago     year ago
      MONEY SUPPLY, M1 (11/29)             $1,127.3  $1,124.4   r   10.5
      BANKS' BUSINESS LOANS (12/1)            273.5      272.4   r  -2.8
      FREE RESERVES (12/8)                    1,154      1,013   r   54.7
      NONFINANCIAL COMMERCIAL PAPER (12/1)    159.4      159.7       5.6
      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 (12/14)                       2.95%     2.67%     2.93%
      PRIME (12/15)                               6.00      6.00      6.00   
      COMMERCIAL PAPER 3-MONTH (12/14)            3.35      3.42      3.68   
      CERTIFICATES OF DEPOSIT 3-MONTH (12/15)     3.25      3.33      3.44   
      EURODOLLAR 3-MONTH (12/10)                  3.33      3.38      3.54   
      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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