Business Week Index

The production index continued to edge higher in the week ended June 14. Before

calculation of the four-week moving average, however, the production index

dropped to 122.1, from 123.3 in the previous week. In the latest week,

seasonally adjusted auto output was down sharply, and there were declines in

energy-related production: electric power, coal, and crude-oil refining. Output

of trucks and lumber increased for the week.

BW production index copyright 1997 Bloomberg L.P.

BusinessWeek Index
PRODUCTION INDICATORS
                                              LATEST       WEEK        YEARLY
                                               WEEK         AGO        % CHG
      STEEL (6/21) thous. of net tons          2,149        2,092#       7.3
      AUTOS (6/21) units                     134,077    121,769 r#      -3.8
      TRUCKS (6/21) units                    127,244    129,462 r#       6.5
      ELECTRIC POWER (6/21) millions of
      kilowatt-hrs.                           67,042       61,893#      -5.2
      CRUDE-OIL REFINING (6/21) thous.
      of bbl./day                             15,052       15,080#       5.6
      COAL (6/14) thous. of net tons         20,428#        20,628      -3.4
      LUMBER (6/14) millions of ft.           516.3#         496.7       7.4
      RAIL FREIGHT (6/14) billions of
      ton-miles                                26.4#          26.5      -1.5
      
      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 (6/20) S&P 500             898.70        893.27      34.8
      CORPORATE BOND YIELD, Aaa (6/20)          7.33%        7.44%      -5.3
      INDUSTRIAL MATERIALS PRICES (6/20)       105.9         106.5       0.5
      BUSINESS FAILURES (6/13)                    NA            NA        NA
      REAL ESTATE LOANS (6/11) billions           NA            NA        NA
      MONEY SUPPLY, M2 (6/9) billions       $3,907.0    $3,909.7 r       4.5
      INITIAL CLAIMS, UNEMPLOYMENT (6/14)
      thous.                                     347         339 r      -2.3
      
      Sources: Standard & Poor's, Moody's, Journal of Commerce (index: 1990=100), 
      Federal Reserve, Labor Dept.
      
      PRICES
                                             LATEST         WEEK      YEARLY
                                               WEEK          AGO       % CHG
      
      GOLD (6/25) $/troy oz.                 338.450       341.600     -11.8
      STEEL SCRAP (6/24) #1 heavy, $/ton      138.50        138.50       0.0
      COPPER (6/20)  cents/lb.                 124.1         121.7      18.1
      ALUMINUM (6/20)  cents/lb.                75.6          77.0       8.3
      COTTON (6/21) strict low middling
      1-1/16 in.,  cents/lb.                   71.15         70.82     -10.9
      OIL (6/24) $/bbl.                        18.47         18.87      -7.1
      CRB FOODSTUFFS (6/24) 1967=100          241.95        242.89     -12.4
      CRB RAW INDUSTRIALS (6/24) 1967=100     335.36        338.52       1.4
      
      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 (6/25)                     114.03        113.43    109.98
      GERMAN MARK (6/25)                        1.73          1.73      1.53
      BRITISH POUND (6/25)                      1.66          1.64      1.55
      FRENCH FRANC (6/25)                       5.82          5.85      5.15
      ITALIAN LIRA (6/25)                     1683.5        1697.5    1535.6
      CANADIAN DOLLAR (6/25)                    1.39          1.39      1.37
      MEXICAN PESO (6/25)3                     7.940         7.909     7.603
      TRADE-WEIGHTED DOLLAR INDEX (6/25)       103.4         103.4      97.9
      
      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 (6/24)                      5.39%        5.46%     5.15%
      COMMERCIAL PAPER (6/25) 3-month           5.63          5.64      5.80
      CERTIFICATES OF DEPOSIT (6/25) 3-month    5.66          5.65      5.48
      FIXED MORTGAGE (6/20) 30-year             7.81          7.90      8.50
      ADJUSTABLE MORTGAGE (6/20) one-year       5.87          5.98      6.08
      PRIME (6/20)                              8.50          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.    3=Free market value   NA=Not available   r=revised   NM=Not 
      meaningful
      
Before it's here, it's on the Bloomberg Terminal.
LEARN MORE