Business Week Index

BusinessWeek Index
PRODUCTION INDICATORS
                                         LATEST    WEEK       YEARLY
                                         WEEK      AGO        % CHG
      STEEL (1/27) thous. of net tons    2,040     2,035#     2.1
      AUTOS (1/27) units                 106,552   107,267r#  -24.1
      TRUCKS (1/27) units                113,710   98,705r#   -4.3
      ELECTRIC POWER (1/27)
       millions of kilowatt-hrs.         64,901    62,943#    3.1
      CRUDE-OIL REFINING (1/27)
       thous. of bbl./day                13,697    13,772#    2.2
      COAL (1/20) thous. of net tons     19,616#   17,149     -7.9
      PAPERBOARD (1/20) thous. of tons   NA#       NA         NA
      PAPER (1/20) thous. of tons        NA#       NA         NA
      LUMBER (1/20) millions of ft.      449.7#    458.4      -6.2
      RAIL FREIGHT (1/20)
       billions of ton-miles             23.6#     22.2       -1.7
      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 (1/26) S&P 500        616.96    606.94     32.0
      CORPORATE BOND YIELD, Aaa (1/26)   6.81%     6.80%      -19.8
      INDUSTRIAL MATERIALS PRICES (1/26) 110.2     110.2      -4.7
      BUSINESS FAILURES (1/19)           NA        NA         NA
      REAL ESTATE LOANS (1/17) billions  $507.3    $508.0     9.5
      MONEY SUPPLY, M2 (1/15) billions   $3,774.3  $3,757.2r  5.0
      INITIAL CLAIMS, UNEMPLOYMENT
       (1/13) thous.                     316       394        -6.8
      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.
      
      PRICES
                                         LATEST    WEEK       YEARLY
                                         WEEK      AGO        % CHG
      GOLD (1/31) $/troy oz.             405.550   402.500    7.5
      STEEL SCRAP (1/30) #1 heavy, $/ton 144.50    144.50     -1.7
      COPPER (1/27)  cents/lb.           121.3     118.5      -16.9
      ALUMINUM (1/27)  cents/lb.         73.0      75.5       -29.8
      COTTON (1/27) strict low
       middling 1-1/16 in.,  cents/lb.   83.24     80.28      -6.8
      OIL (1/30) $/bbl.                  17.61     18.74      -4.6
      Sources: London Wednesday final setting, Chicago market, Metals Week, Memphis 
      market, NYMEX
      
      INTEREST RATES
                                         LATEST    WEEK       YEAR
                                         WEEK      AGO        AGO
      FEDERAL FUNDS (1/30)               5.37%     5.44%      5.63%
      COMMERCIAL PAPER (1/30) 3-month    5.31      5.35       6.28
      CERTIFICATES OF DEPOSIT
       (1/31) 3-month                    5.24      5.36       6.22
      FIXED MORTGAGE (1/26) 30-year      7.30      7.30       9.32
      ADJUSTABLE MORTGAGE
       (1/26) one-year                   5.45      5.59       6.83
      PRIME (1/31)                       8.25      8.50       8.57
      Sources: Federal Reserve, HSH Associates, Reuters Holdings PLC
      
      FOREIGN EXCHANGE
                                         LATEST    WEEK       YEAR
                                         WEEK      AGO        AGO
      JAPANESE YEN (1/31)                106.96    106.81     99.57
      GERMAN MARK (1/31)                 1.49      1.48       1.52
      BRITISH POUND (1/31)               1.51      1.51       1.57
      FRENCH FRANC (1/31)                5.11      5.08       5.27
      ITALIAN LIRA (1/31)                1597.0    1591.5     1607.5
      CANADIAN DOLLAR (1/31)             1.38      1.37       1.41
      MEXICAN PESO (1/31)3               7.375     7.450      5.450
      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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