Business Week Index

The production index has been revised back to January, 1992, to reflect the

benchmark revision to the Federal Reserve's index of industrial production, new

component weights, and new seasonal factors. Historical data are available from

Business Week or at Business Week Online at http://www.businessweek.com or on

America Online at keyword: BW. Look for the production index on the current

issue's Table of Contents.

BW production index copyright 1997 Bloomberg L.P.

BusinessWeek Index
PRODUCTION INDICATORS
                                                LATEST    WEEK       YEARLY
                                                WEEK      AGO %      CHG
      STEEL (3/29) thous. of net tons           2,149     2,120#      2.3
      AUTOS (3/29) units                        113,024   127,334r#  -7.8
      TRUCKS (3/29) units                       99,029    131,172r#  -23.2
      ELECTRIC POWER (3/29) millions of         56,950    59,339#    -1.2
       kilowatt-hrs.
      CRUDE-OIL REFINING (3/29) thous. of       14,290    14,079#     1.8
       bbl./day
      COAL (3/22) thous. of net tons            21,344#   20,800     -0.6
      LUMBER (3/22) millions of ft.             509.9#    509.0       10.6
      RAIL FREIGHT (3/22) billions of ton-miles 27.9#     27.4        4.1
      
      Sources: American Iron & Steel Institute, Ward's Automotive Reports, Edison 
      Electric Institute, American Petroleum Institute, Energy Dept., WWPA1, SFPA2, 
      Association of American Railroads
      
      LEADING INDICATORS
                                              LATEST     WEEK        YEARLY
                                              WEEK       AGO         % CHG
      STOCK PRICES (3/28) S&P 500             757.12     784.10      16.6
      CORPORATE BOND YIELD, Aaa (3/28)        7.63%      7.61%       3.2
      INDUSTRIAL MATERIALS PRICES (3/28)      106.2      107.6      -3.3
      BUSINESS FAILURES (3/21)                NA         NA          NA
      REAL ESTATE LOANS (3/19) billions       NA         NA          NA
      MONEY SUPPLY, M2 (3/17) billions        $3,876.9   $3,875.3r   4.3
      INITIAL CLAIMS, UNEMPLOYMENT (3/22)     310        314r       -27.2
       thous.
      
      Sources: Standard & Poor's, Moody's, Journal of Commerce (index: 1990=100), Dun 
      & Bradstreet (failures of large companies), Federal Reserve, Labor Dept.
      
      PRICES
                                             LATEST      WEEK    YEARLY
                                              WEEK       AGO      % CHG
      GOLD (4/2) $/troy oz.                  351.050     346.050  -11.0
      STEEL SCRAP (3/28)#1 heavy, $/ton      136.50      136.50   -1.8
      COPPER (3/28)  cents/lb.               119.8       117.7    -0.1
      ALUMINUM (3/28)  cents/lb.             79.3        80.0      1.8
      COTTON (3/29) strict low middling      69.67       70.63    -15.2
       1-1/16 in.,  cents/lb.
      OIL (4/1) $/bbl.                       19.95       20.77    -11.1
      CRB FOODSTUFFS (4/1) 1967=100          245.32      245.28    4.0
      CRB RAW INDUSTRIALS (4/1) 1967=100     337.92      339.19    2.2
      
      Sources: London Wednesday final setting, Chicago market, Metals Week, Memphis 
      market, NYMEX, Commodity Research Bureau
      
      FOREIGN EXCHANGE
                                              LATEST     WEEK     YEAR
                                               WEEK       AGO     AGO
      JAPANESE YEN (4/2)                      122.72     124.23   106.98
      GERMAN MARK (4/2)                       1.67       1.69     1.48
      BRITISH POUND (4/2)                     1.64       1.63     1.53
      FRENCH FRANC (4/2)                      5.63       5.70     5.04
      ITALIAN LIRA (4/2)                      1659.0     1685.5   1561.7
      CANADIAN DOLLAR (4/2)                   1.39       1.37     1.36
      MEXICAN PESO (4/2)***                   7.939      7.893    7.525
      TRADE-WEIGHTED DOLLAR INDEX (4/2)       104.6      105.1    96.68
      
      Sources: Major New York banks. Currencies expressed in units per U.S. dollar, 
      except for British pound in dollars. Trade-weighted dollar via J.P. Morgan.
      
      INTEREST RATES
                                                  LATEST  WEEK       YEAR
                                                   WEEK    AGO       AGO
      FEDERAL FUNDS (4/1)                          6.18%  5.57%      5.29%
      COMMERCIAL PAPER (4/2) 3-month               5.71   5.70       5.36
      CERTIFICATES OF DEPOSIT (4/2) 3-month        5.70   5.66       5.35
      FIXED MORTGAGE (3/28) 30-year                8.21   8.09       8.00
      ADJUSTABLE MORTGAGE (3/28) one-year          6.02   5.85       5.77
      PRIME (3/28)                                 8.50   8.25-8.50  8.25
      
      Sources: Federal Reserve, HSH Associates, Bloomberg Financial Markets
      
      #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.  ***=Free market value   NA=Not available   r=revised   NM=Not 
      meaningful
      
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