Business Week Index

      PRODUCTION INDICATORS
                                                      Latest       Week    % Change
                                                       week         ago     year ago
      STEEL (9/3) thous. of net tons                  1,894         1,858#       3.7
      AUTOS (9/3) units                               129,866       115,780r#   37.0
      TRUCKS (9/3) units                              118,354       115,530r#   31.5
      ELECTRIC POWER (9/3) millions of kilowatt-hours 64,790        67,213#     -4.0
      CRUDE-OIL REFINING (9/3) thous. of bbl./day     14,259        14,415#      3.4
      COAL (8/27) thous. of net tons                  21,010#       20,435      13.8
      PAPERBOARD (8/27) thous. of tons                905.0#        886.8        8.1
      PAPER (8/27) thous. of tons                     826.0#        826.0r       2.0
      LUMBER (8/27) millions of ft.                   477.2#        472.8        8.3
      RAIL FREIGHT (8/27) billions of ton-miles       24.6 #        24.3        11.3
      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 (9/7)      99              100             106
      GERMAN MARK (9/7)       1.55            1.58            1.60
      BRITISH POUND (9/7)     1.55            1.54            1.55
      FRENCH FRANC (9/7)      5.31            5.41            5.63
      CANADIAN DOLLAR (9/7)   1.37            1.37            1.32
      SWISS FRANC (9/7)       1.30            1.33            1.40
      MEXICAN PESO (9/7)3     3.398           3.387           3.109
      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 (9/7) $/troy oz.                                   389.700  385.750  10.8
      STEEL SCRAP (9/6) #1 heavy, $/ton                       134.50   134.50   19.6
      FOODSTUFFS (9/6) index, 1967=100                        213.7    213.2     0.5
      COPPER (9/3)  cents/lb.                                 119.1    113.3    31.3
      ALUMINUM (9/3)  cents/lb.                               74.0     72.0     37.0
      WHEAT (9/3) #2 hard, $/bu.                              3.90     3.81     16.1
      COTTON (9/3) strict low middling 1-1/16 in.,  cents/lb. 71.29    70.26    35.4
      Sources: London Wednesday final setting, Chicago market, Knight-Ridder 
      Commodity Research Bureau, Metals Week, Kansas City market, Memphis market
      
      LEADING INDICATORS
                                                 Latest          Week       % Change
                                                 week            ago        year ago
      STOCK PRICES (9/2) S&P 500                 474.06          467.55          2.6
      CORPORATE BOND YIELD, Aaa (9/2)            8.09%           8.13%          22.4
      INDUSTRIAL MATERIALS PRICES (9/2)          106.9           106.3          11.9
      BUSINESS FAILURES (8/26)                   NA              312             NA
      REAL ESTATE LOANS (8/24) billions          NA             $436.5           NA
      MONEY SUPPLY, M2 (8/22) billions          $3,564.0        $3,560.5         2.1
      INITIAL CLAIMS, UNEMPLOYMENT (8/20) thous. 323             325            -2.4
      Sources: Standard & Poor's, Moody's, Journal of Commerce (index: 1980=100), Dun 
      & Bradstreet (failures of large companies), Federal Reserve, Labor Dept. CIBCR 
      seasonally adjusts data on business failures and real estate loans
      
      MONTHLY ECONOMIC INDICATORS
                                                       Latest    Month   % Change
                                                       month     ago     year ago
      EMPLOYMENT, CIVILIAN (August) millions           123.2     122.5       2.2
      UNEMPLOYMENT RATE, CIVILIAN (August)             6.1%       6.1%       NM
      CONSTR. SPENDING (July) annual rate, billions   $510.5     $507.5r     9.9
      PURCHASING MANAGERS' INDEX (August)              56.2%      57.8%     13.8
      Sources: BLS, Census Bureau, National Assn. of Purchasing Management
      
      MONETARY INDICATORS
                                              Latest          Week      % Change
                                               week            ago      year ago
      MONEY SUPPLY, M1 (8/22)                $1,154.3        $1,148.4r       5.4
      BANKS' BUSINESS LOANS (8/24)            299.7           301.1r        10.2
      FREE RESERVES (8/31)                    450             518r         -44.9
      NONFINANCIAL COMMERCIAL PAPER (8/24)    148.3           150.1         -6.3
      Sources: Federal Reserve (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 (9/6)                     4.81%           4.67%           2.99%
      PRIME (9/7)                             7.75            7.75            6.00
      COMMERCIAL PAPER 3-MONTH (9/7)          4.91            4.91            3.13
      CERTIFICATES OF DEPOSIT 3-MONTH (9/7)   4.87            4.89            3.11
      EURODOLLAR 3-MONTH (9/2)                4.88            4.86            3.11
      Sources: Federal Reserve, First Boston
      
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