Business Week Index

PRODUCTION INDICATORS
      
                                                      LATEST     WEEK      YEARLY
                                                      WEEK       AGO        % CHG
      STEEL (5/20) thous. of net tons                 1,986      2,016#       4.3
      AUTOS (5/20) units                              136,972    138,317r#   -9.1
      TRUCKS (5/20) units                             121,410    119,218r#    1.2
      ELECTRIC POWER (5/20) millions of kilowatt-hrs. NA         56,459#      NA
      CRUDE-OILREFINING (5/20) thous. of bbl./day     14,327     13,973#      2.4
      COAL (5/13) thous. of net tons                  19,232#    19,306      -3.9
      PAPERBOARD (5/13) thous. of tons                884.3#     873.5r       3.3
      PAPER (5/13) thous. of tons                     846.0#     846.0        8.3
      LUMBER (5/13) millions of ft.                   424.7#     426.2       -7.4
      RAIL FREIGHT (5/13) billions of ton-miles       23.6#      23.8         1.7
      Sources: American Iron & Steel Institute, Ward's Automotivereports, 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 (5/19) S&P 500                    524.35    524.36      16.1
      CORPORATE BOND YIELD, Aaa (5/19)               7.60%     7.69%       -3.7
      INDUSTRIAL MATERIALS PRICES (5/19)             113.7     114.5       NA*
      BUSINESS FAILURES (5/12)                       NA        NA          NA
      REAL ESTATE LOANS (5/10) billions              $477.8    $476.8r     11.1
      MONEY SUPPLY, M2 (5/8) billions                $3,613.0  $3,615.5r   1.7
      INITIAL CLAIMS, UNEMPLOYMENT (5/6) thous.      366       371         -3.9
      Sources: Center for International Business Cycleresearch (CIBCR), Standard & 
      Poor's, Moody's, Journal of Commerce (index: 1990=100), Dun & Bradstreet 
      (failures of large companies), Federalreserve, Labor Dept. CIBCR seasonally 
      adjusts data on business failures andreal estate loans. *Historical data 
      available from CIBCR.
      
      PRICES
      
                                                            LATEST  WEEK   YEARLY
                                                            WEEK    AGO     % CHG
      GOLD (5/24) $/troy oz.                                383.100 382.900  -0.7
      STEEL SCRAP (5/23)#1 heavy, $/ton                     142.50  142.50   13.1
      COPPER (5/20)  cents/lb.                              130.3   129.0    20.9
      ALUMINUM (5/20)  cents/lb.                            84.0    84.5     30.2
      COTTON (5/20) strict low middling 1-1/16 in.,  
        cents/lb.                                           103.04  102.31   31.3
      OIL (5/23) $/bbl.                                     19.75   19.98    11.6
      Sources: London Wednesday final setting, Chicago market, Metals Week, Memphis 
      market, NYMEX
      
      INTERESTRATES
      
                                              LATEST        WEEK            YEAR
                                              WEEK          AGO             AGO
      FEDERAL FUNDS (5/23)                    5.96%         6.01%           4.22%
      COMMERCIAL PAPER (5/23) 3-month         6.06          6.06            4.55
      CERTIFICATES OF DEPOSIT (5/24) 3-month  5.99          6.02            4.49
      FIXED MORTGAGE (5/19) 30-year           8.10          8.10            8.65
      ADJUSTABLE MORTGAGE (5/19) one-year     6.15          6.11            5.60
      PRIME (5/24)                            9.00          9.00            7.25
      Sources: Federalreserve, HSH Associates,reuters Holdings PLC
      
      FOREIGN EXCHANGE
      
                              LATEST          WEEK            YEAR
                              WEEK            AGO             AGO
      JAPANESE YEN (5/24)     87.28           86.61           104.65
      GERMAN MARK (5/24)      1.44            1.44            1.65
      BRITISH POUND (5/24)    1.58            1.57            1.51
      FRENCH FRANC (5/24)     5.11            5.11            5.63
      ITALIAN LIRA (5/24)     1672.3          1654.5          1594.1
      CANADIAN DOLLAR (5/24)  1.36            1.36            1.39
      MEXICAN PESO (5/24)3    6.045           5.925           3.285
      Sources: Major New York banks. Currencies expressed in units per U.S. dollar, 
      except for British pound in dollars
      
      #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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