Business Week Index

      PRODUCTION INDICATORS
                                                      LATEST  WEEK       YEARLY 
                                                      WEEK    AGO        % CHG 
      STEEL (10/29) thous. of net tons                1,954   1,947#      2.4
      AUTOS (10/29) units                             140,378 140,885r#   3.6
      TRUCKS (10/29) units                            117,812 122,746r#   3.4
      ELECTRIC POWER (10/29) millions of kilowatt-hrs.55,833  56,077#     3.7
      CRUDE-OIL REFINING (10/29) thous. of bbl./day   13,089  13,541#    -4.5
      COAL (10/22) thous. of net tons                 20,667# 20,520      6.2
      PAPERBOARD (10/22) thous. of tons               914.0#  870.0r      10.9
      PAPER (10/22) thous. of tons                    850.0#  829.0r      4.0
      LUMBER (10/22) millions of ft.                  481.1#  480.2      -1.9
      RAIL FREIGHT (10/22) billions of ton-miles      25.3#   25.1        5.9
      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* (10/22)       246.58     246.42r   7.8
      STOCK PRICES (10/28) S&P 500               464.92     467.73   -0.2
      CORPORATE BOND YIELD, Aaa (10/28)          8.65%      8.54%     28.5
      INDUSTRIAL MATERIALS PRICES (10/28)        107.9      107.5     14.3
      BUSINESS FAILURES (10/21)                  262        254      -22.7
      REAL ESTATE LOANS (10/19) billions         $443.9    $444.2r    6.7
      MONEY SUPPLY, M2 (10/17) billions          $3,562.3  $3,558.5r  1.8
      INITIAL CLAIMS, UNEMPLOYMENT (10/15) thous. 324       329      -7.7
      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. *Copyright 1994 by 
      CIBCR.
      
      PRICES
                                                                LATEST   WEEK YEARLY
                                                                WEEK     AGO   % CHG
      GOLD (11/2) $/troy oz.                                    383.850  388.900 5.6
      STEEL SCRAP (11/1) #1 heavy, $/ton                        133.50   133.50  1.5
      COPPER (10/29)  cents/lb.                                 126.7    122.1  50.1
      ALUMINUM (10/29)  cents/lb.                               86.5     85.0   73.9
      COTTON (10/29) strict low middling 1-1/16 in.,  cents/lb. 69.38    67.28  23.3
      OIL (11/1) $/bbl.                                         18.63    17.49   5.6
      Sources: London Wednesday final setting, Chicago market, Metals Week, Memphis 
      market, NYMEX
      
      FOREIGN EXCHANGE
                              LATEST          WEEK            YEAR
                              WEEK            AGO             AGO
      JAPANESE YEN (11/2)     96.20           97.01           108.25
      GERMAN MARK (11/2)      1.49            1.50            1.70
      BRITISH POUND (11/2)    1.64            1.63            1.48
      FRENCH FRANC (11/2)     5.12            5.12            5.91
      ITALIAN LIRA (11/2)     1538.5          1527.5          1642.0
      CANADIAN DOLLAR (11/2)  1.36            1.35            1.29
      MEXICAN PESO (11/2)3    3.436           3.431           3.147
      Sources: Major New York banks. Currencies expressed in units per U.S. dollar, 
      except for British pound expressed in dollars
      
      INTEREST RATES
                                              LATEST          WEEK            YEAR
                                              WEEK            AGO             AGO
      FEDERAL FUNDS (11/1)                    4.76%           4.67%           3.04%
      COMMERCIAL PAPER (11/1) 3-month         5.60            5.55            3.38
      CERTIFICATES OF DEPOSIT (11/2) 3-month  5.58            5.56            3.36    
      FIXED MORTGAGE (10/28) 30-year          9.17            9.01            6.97
      ADJUSTABLE MORTGAGE (10/28) one-year    6.00            5.87            4.14
      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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