Business Week Index

PRODUCTION INDICATORS
                                           LATEST     WEEK       YEARLY
                                           WEEK       AGO        % CHG
      STEEL (11/18) thous. of net tons     1,877      1,895#     -1.5
      AUTOS (11/18) units                  128,333    132,255r#  -8.3
      TRUCKS (11/18) units                 120,312    114,839r#  -1.7
      ELECTRIC POWER (11/18)
       millions of kilowatt-hrs.           60,532     59,890#    8.0
      CRUDE-OIL REFINING (11/18)
       thous. of bbl./day                  NA         13,481#    NA
      COAL (11/11) thous. of net tons      19,609#    19,848     -3.4
      PAPERBOARD (11/11) thous. of tons    812.6#     880.0r     -7.1
      PAPER (11/11) thous. of tons         793.0#     834.0r     -6.6
      LUMBER (11/11) millions of ft.       445.8#     436.2      -11.9
      RAIL FREIGHT (11/11)
       billions of ton-miles               25.2#      25.6       0.0
      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 (11/17) S&P 500         594.59     590.49     28.1
      CORPORATE BOND YIELD, Aaa (11/17)    7.02%      7.04%      -19.3
      INDUSTRIAL MATERIALS PRICES (11/17)  111.9      111.6      NA*
      BUSINESS FAILURES (11/10)            NA         314r       NA
      REAL ESTATE LOANS (11/7) billions    $504.9     $501.7r    11.2
      MONEY SUPPLY, M2 (11/3) billions     $3,722.6   $3,721.8   4.3
      INITIAL CLAIMS, UNEMPLOYMENT
       (11/1) thous.                       375        366        12.6
      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 (11/22) $/troy oz.              386.300    385.300    0.5
      STEEL SCRAP (11/21) #1 heavy, $/ton  134.50     134.50     -2.9
      COPPER (11/18)  cents/lb.            139.7      140.8      2.1
      ALUMINUM (11/18)  cents/lb.          77.0       78.0       -16.3
      COTTON (11/18) strict low
       middling 1-1/16 in.,  cents/lb.     84.50      83.03      17.1
      OIL (11/20) $/bbl.                   18.09      17.90      3.5
      Sources: London Wednesday final setting, Chicago market, Metals Week, Memphis 
      market, NYMEX
      
      INTEREST RATES
                                           LATEST     WEEK       YEAR
                                           WEEK       AGO        AGO
      FEDERAL FUNDS (11/20)                5.73%      5.71%      5.53%
      COMMERCIAL PAPER (11/21) 3-month     5.72       5.74       5.90
      CERTIFICATES OF DEPOSIT
       (11/21) 3-month                     5.73       5.74       5.87
      FIXED MORTGAGE (11/17) 30-year       7.66       7.63       9.33
      ADJUSTABLE MORTGAGE (11/17) one-year 5.78       5.69       6.33
      PRIME (11/22)                        8.75       8.75       8.50
      Sources: Federal Reserve, HSH Associates, Reuters Holdings PLC
      
      FOREIGN EXCHANGE
                                           LATEST     WEEK       YEAR
                                           WEEK       AGO        AGO
      JAPANESE YEN (11/21)                 101.60     101.02     98.60
      GERMAN MARK (11/21)                  1.41       1.40       1.56
      BRITISH POUND (11/21)                1.56       1.56       1.56
      FRENCH FRANC (11/21)                 4.86       4.84       5.35
      ITALIAN LIRA (11/21)                 1592.5     1590.8     1614.3
      CANADIAN DOLLAR (11/21)              1.35       1.36       1.37
      MEXICAN PESO (11/21)3                7.705      8.000      3.446
      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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