business

Business Week Index

PRODUCTION AND LEADING INDEXES
      The production index was unchanged during the week ended Feb. 11. Seasonally 
      adjusted output levels of steel, autos, paperboard, and coal were up solidly. 
      Those gains helped push up the index before calculation of the four-week moving 
      average. The unaveraged index rose to 122, from 120.9.
      The leading index fell slightly in the latest week. The unaveraged index also 
      dropped, to 253.7 from a revised 254.4, held down by slower growth in materials 
      prices.
      
      PRODUCTION INDICATORS
                                           LATEST             WEEK        YEARLY
                                            WEEK               AGO        % CHG
      
      STEEL (2/25) thous. of net tons        2,046           2,030  #       7.5
      AUTOS (2/25) units                   150,060         148,380 r#      -0.7
      TRUCKS (2/25) units                  117,050         118,701 r#      -3.4
      ELECTRIC POWER (2/25) millions
      of kilowatt-hrs.                          NA          64,127  #       NA
      CRUDE-OIL REFINING (2/25) thous.
      of bbl./day                           13,334          13,309  #       2.6
      COAL (2/18) thous. of net tons        21,024  #       20,401          1.2
      PAPERBOARD (2/18) thous. of tons       934.6   #       918.2   r     10.6
      PAPER (2/18) thous. of tons            846.0   #       858.0   r      2.1
      LUMBER (2/18) millions of ft.          437.7   #       457.7        -10.3
      RAIL FREIGHT (2/18) billions
      of ton-miles                            23.6    #       23.3          4.4
      
      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
      BW production index copyright 1994 Bloomberg L.P.   BW leading index 
      copyright 1994 by CIBCR
      
      LEADING INDICATORS
                                           LATEST            WEEK        YEARLY
                                            WEEK              AGO         % CHG
      
      STOCK PRICES (2/24) S&P 500           485.71          483.19          3.6
      CORPORATE BOND YIELD, Aaa (2/24)        8.23 %          8.26 %       13.8
      INDUSTRIAL MATERIALS PRICES (2/24)     113.1           112.6   r       NA *
      BUSINESS FAILURES (2/17)                  NA             349           NA
      REAL ESTATE LOANS (2/15) billions     $466.3          $466.1         10.3
      MONEY SUPPLY, M2 (2/13) billions    $3,588.2        $3,592.6 r        1.8
      INITIAL CLAIMS, UNEMPLOYMENT
      (2/11) thous.                            347             318         -3.6
      
      Sources: Center for International Business Cycle Research (CIBCR), Standard & 
      Poor's, Moody's, Journal of Commerce (index: 1990=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 (3/1) $/troy oz.                375.700         379.200         -1.0
      STEEL SCRAP (2/28) #1 heavy, $/ton    142.50          142.50          2.2
      COPPER (2/25)  cents/lb.               138.5           139.4         52.7
      ALUMINUM (2/25)  cents/lb.              92.3            91.5         48.8
      COTTON (2/25) strict low middling
      1-1/16 in.,  cents/lb.                 96.25           91.36         29.7
      OIL (2/28) $/bbl.                      18.56           18.86         25.8
      
      Sources: London Wednesday final setting, Chicago market, Metals Week, Memphis 
      market, NYMEX
      
      FOREIGN EXCHANGE
                                             LATEST           WEEK        YEAR
                                             WEEK              AGO         AGO
      
      JAPANESE YEN (3/1)                     96.76           97.00       105.40
      GERMAN MARK (3/1)                       1.47            1.47         1.71
      BRITISH POUND (3/1)                     1.58            1.59         1.49
      FRENCH FRANC (3/1)                      5.15            5.14         5.83
      ITALIAN LIRA (3/1)                    1643.5          1622.5       1685.8
      CANADIAN DOLLAR (3/1)                   1.40            1.40         1.35
      MEXICAN PESO (3/1)3                    5.905           5.775        3.230
      
      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 (2/28)                    6.10 %          5.99 %       3.28 %
      COMMERCIAL PAPER (3/1)
      3-month                                 6.13            6.14         3.78
      CERTIFICATES OF DEPOSIT (3/1)
      3-month                                 6.13            6.13         3.71
      FIXED MORTGAGE (2/24) 30-year           8.88            9.04         7.44
      ADJUSTABLE MORTGAGE (2/24)
      one-year                                6.63            6.80         4.38
      PRIME (3/1)                             9.00            9.00         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
      
    Before it's here, it's on the Bloomberg Terminal. LEARN MORE