Business Week Index

      PRODUCTION INDICATORS
                                             LATEST          WEEK        YEARLY
                                              WEEK           AGO      % CHG
      STEEL (12/10) thous. of net tons        1,929           2,001  #      4.2
      AUTOS (12/10) units                   149,394         147,214 r#     -0.4
      TRUCKS (12/10) units                  122,335         123,129 r#      4.6
      ELECTRIC POWER (12/10) millions of
      kilowatt-hrs.                          58,625          58,051 #       1.5
      CRUDE-OIL REFINING (12/10) thous. of
      bbl./day                               13,777          14,176 #        0.6
      COAL (12/3) thous. of net tons         21,188 #       17,847          16.4
      PAPERBOARD (12/3) thous. of tons        893.8  #       909.6           7.7
      PAPER (12/3) thous. of tons             860.0  #       837.0   r       6.4
      LUMBER (12/3) millions of ft.           401.0  #       320.1         -14.2
      RAIL FREIGHT (12/3) billions of
      ton-miles                                26.1   #       20.6          10.1
      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
      STOCK PRICES (12/9) S&P 500            450.01          453.05       -3.3
      CORPORATE BOND YIELD, Aaa (12/9)         8.47 %          8.57 %     23.5
      INDUSTRIAL MATERIALS PRICES (12/9)      113.0            NA*          NA*
      BUSINESS FAILURES (12/2)                  326             283       -9.4
      REAL ESTATE LOANS (11/30) billions     $453.3          $450.8        7.3
      MONEY SUPPLY, M2 (11/28) billions    $3,566.6        $3,570.3 r      1.1
      INITIAL CLAIMS, UNEMPLOYMENT
      (11/26) thous.                            316            328 r      -1.9
      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. *Historical data 
      available from CIBCR.
      
      PRICES
                                             LATEST          WEEK         YEARLY
                                             WEEK             AGO       % CHG
      GOLD (12/14) $/troy oz.               380.500         377.000         -1.3
      STEEL SCRAP (12/13)#1 heavy, $/ton     143.50          140.00          3.2
      COPPER (12/10)  cents/lb.               139.7           140.4         70.4
      ALUMINUM (12/10)  cents/lb.              90.0            92.5         74.8
      COTTON (12/10) strict low middling
      1-1/16 in.,  cents/lb.                  80.57           77.08         36.2
      OIL (12/13) $/bbl.                      16.79           16.94         15.4
      Sources: London Wednesday final setting, Chicago market, Metals Week, Memphis 
      market, NYMEX
      
      FOREIGN EXCHANGE
                               LATEST          WEEK           YEAR
                                WEEK            AGO            AGO
      JAPANESE YEN (12/14)    100.27          100.20          109.85
      GERMAN MARK (12/14)       1.57            1.57            1.71
      BRITISH POUND (12/14)     1.56            1.56            1.49
      FRENCH FRANC (12/14)      5.41            5.40            5.84
      ITALIAN LIRA (12/14)    1635.4          1622.9          1689.3
      CANADIAN DOLLAR (12/14)   1.39            1.38            1.33
      MEXICAN PESO (12/14)3    3.457           3.451           3.106
      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 (12/13)                    5.41 %          5.07 %         2.94 %
      COMMERCIAL PAPER (12/13) 3-month         6.32            6.29           3.34
      CERTIFICATES OF DEPOSIT (12/14) 3-month  6.35            6.23           3.23
      FIXED MORTGAGE (12/9) 30-year            9.30            9.36           7.25
      ADJUSTABLE MORTGAGE (12/9) one-year      6.57            6.47           4.30
      PRIME (12/14)                            8.50            8.50           6.00
      Sources: Federal Reserve, HSH Associates, Reuters Holdings PLC
      
      #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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