Business Week Index

      PRODUCTION INDICATORS
                                                      LATEST       WEEK       YEARLY
                                                      WEEK         AGO        % CHG
      STEEL (10/1) thous. of net tons                 1,913        1,870#       7.9
      AUTOS (10/1) units                              119,246      140,256r#   -3.6
      TRUCKS (10/1) units                             109,559      114,303r#    1.9
      ELECTRIC POWER (10/1) millions of kilowatt-hrs. 57,941       59,427#      3.3
      CRUDE-OIL REFINING (10/1) thous. of bbl./day    14,072       14,034#      1.4
      COAL (9/24) thous. of net tons                  20,007#      19,989       3.1
      PAPERBOARD (9/24) thous. of tons                880.4#       896.6r       7.1
      PAPER (9/24) thous. of tons                     827.0#       824.0r       4.8
      LUMBER (9/24) millions of ft.                   496.9#       500.6       -0.1
      RAIL FREIGHT (9/24) billions of ton-miles       24.1 #       24.3         6.2
      Sources: American Iron & Steel Institute, Ward's Automotive Reports, Edison 
      Electric Institute, American Petroleum Institute, Energy Dept., American Forest 
      & Paper Association, WWPA1, SFPA2, Association of American Railroads
      
      LEADING INDICATORS
                                                 LATEST         WEEK          YEARLY
                                                 WEEK            AGO           % CHG
      BUSINESS WEEK LEADING INDEX (9/24)         246.00          245.60r       8.1
      STOCK PRICES (9/30) S&P 500                462.53          463.32        0.4
      CORPORATE BOND YIELD, Aaa (9/30)           8.48%           8.41%         26.8
      INDUSTRIAL MATERIALS PRICES (9/30)         108.1           107.9         15.0
      BUSINESS FAILURES (9/23)                   317             287r         -6.8
      REAL ESTATE LOANS (9/21) billions         $440.7          $439.2r        6.6
      MONEY SUPPLY, M2 (9/19) billions          $3,559.3        $3,560.4r      1.6
      INITIAL CLAIMS, UNEMPLOYMENT (9/17) thous. 321             327          -5.6
      Sources: Center for International Business Cycle Research (CIBCR), 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.
      
      PRICES
                                                              LATEST   WEEK   YEARLY
                                                                WEEK    AGO    % CHG
      GOLD (10/5) $/troy oz.                                  393.700   396.250 10.5
      STEEL SCRAP (10/4) #1 heavy, $/ton                      134.50    134.50  19.6
      COPPER (10/1)  cents/lb.                                126.0     127.3   45.4
      ALUMINUM (10/1)  cents/lb.                              79.0      79.0    53.4
      COTTON (10/1) strict low middling 1-1/16 in.,  cents/lb.68.85    70.56    22.5
      OIL (10/4) $/bbl.                                       17.96    17.70   -2.4
      Sources: London Wednesday final setting, Chicago market, Metals Week, Memphis 
      market, NYMEX
      
      FOREIGN EXCHANGE
                              LATEST          WEEK            YEAR
                              WEEK            AGO             AGO
      JAPANESE YEN (10/5)     99.49           97.74           105.00
      GERMAN MARK (10/5)      1.54            1.55            1.62
      BRITISH POUND (10/5)    1.59            1.58            1.52
      FRENCH FRANC (10/5)     5.27            5.28            5.69
      ITALIAN LIRA (10/5)     1567.5          1565.0          1611.0
      CANADIAN DOLLAR (10/5)  1.35            1.34            1.34
      MEXICAN PESO (10/5)3    3.412           3.388           3.107
      Sources: Major New York banks. Currencies expressed in units per U.S. dollar, 
      except for British pound in dollars.
      
      INTEREST RATES
                                              LATEST          WEEK            YEAR
                                              WEEK            AGO             AGO
      FEDERAL FUNDS (10/4)                    4.78%           4.29%           3.24%
      COMMERCIAL PAPER (10/4) 3-month         5.46            5.18            3.26
      CERTIFICATES OF DEPOSIT (10/5) 3-month  5.50            5.16            3.23
      FIXED MORTGAGE (9/30) 30-year           8.91            8.89            6.90
      ADJUSTABLE MORTGAGE (9/30) one-year     5.69            5.71            4.20
      Sources: Federal Reserve, HSH Associates
      
      #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 availabler=revised   NM=Not 
      meaningful
      
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