Business Week Index

PRODUCTION INDICATORS
                                              LATEST      WEEK      YEARLY
                                              WEEK        AGO       % CHG
      STEEL (10/28) thous. of net tons        1,926       1,834#    -1.4
      AUTOS (10/28) units                     135,989     134,500r# -7.4
      TRUCKS (10/28) units                    115,074     125,526r# -7.9
      ELECTRIC POWER (10/28)
       millions of kilowatt-hrs.              57,049      57,046#   2.2
      CRUDE-OIL REFINING (10/28)
       thous. of bbl./day                     13,919      13,786#   5.1
      COAL (10/21) thous. of net tons         20,410#     20,675    -0.6
      PAPERBOARD (10/21) thous. of tons       896.6#      883.7r    -1.6
      PAPER (10/21) thous. of tons            831.0#      820.0     -1.9
      LUMBER (10/21) millions of ft.          467.3#      464.7     -2.8
      RAIL FREIGHT (10/21)
       billions of ton-miles                  25.6#       25.8      2.0
      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 (10/27) S&P 500            582.10      587.07    25.2
      CORPORATE BOND YIELD, Aaa (10/27)       7.10%       7.08%     -17.9
      INDUSTRIAL MATERIALS PRICES (10/27)     110.8       110.5     NA*
      BUSINESS FAILURES (10/20)               NA          NA        NA
      REAL ESTATE LOANS (10/18) billions      $500.1      $501.7    11.5
      MONEY SUPPLY, M2 (10/16) billions       $3,722.6    $3,717.3r 4.1
      INITIAL CLAIMS, UNEMPLOYMENT
       (10/14) thous.                         359         356       10.5
      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 (11/1) $/troy oz.                  83.1950     382.400   -1.0
      STEEL SCRAP (10/31) #1 heavy, $/ton     138.50      140.50    3.7
      COPPER (10/28)  cents/lb.               131.5       129.4     3.8
      ALUMINUM (10/28)  cents/lb.             77.0        77.0      -11.0
      COTTON (10/28) strict low middling
       1-1/16 in.,  cents/lb.                 83.09       83.18     19.8
      OIL (10/31) $/bbl.                      17.67       17.58     -5.2
      Sources: London Wednesday final setting, Chicago market, Metals Week, Memphis 
      market, NYMEX
      
      INTEREST RATES
                                              LATEST      WEEK      YEAR
                                              WEEK        AGO       AGO
      FEDERAL FUNDS (10/31)                   5.97%       5.70%     4.77%
      COMMERCIAL PAPER (10/31) 3-month        5.81        5.82      5.63
      CERTIFICATES OF DEPOSIT (11/1) 3-month  5.78        5.80      5.59
      FIXED MORTGAGE (10/27) 30-year          7.70        7.69      9.17
      ADJUSTABLE MORTGAGE (10/27) one-year    5.76        5.85      6.00
      PRIME (11/1)                            8.75        8.75      7.75
      Sources: Federal Reserve, HSH Associates, Reuters Holdings PLC
      
      FOREIGN EXCHANGE
                                              LATEST      WEEK      YEAR
                                              WEEK        AGO       AGO
      JAPANESE YEN (11/1)                     102.85      101.24    97.95
      GERMAN MARK (11/1)                      1.42        1.39      1.52
      BRITISH POUND (11/1)                    1.58        1.58      1.61
      FRENCH FRANC (11/1)                     4.90        4.90      5.22
      ITALIAN LIRA (11/1)                     1596.1      1615.5    1562.8
      CANADIAN DOLLAR (11/1)                  1.35        1.37      1.36
      MEXICAN PESO (11/1)3                    7.205       6.750     3.431
      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 available   r=revised   NM=Not 
      meaningful
      

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