Business Week Index

PRODUCTION INDEX

The production index inched up in the week ended Nov. 15, as did the unaveraged

index which was up 0.2% to 127.1, from 126.9 in the previous week. After

seasonal adjustment, electric output rose 3%, with weekly increases of

available energy up 5.4% in New England and 4.7% in the Mid-Atlantic region.

Lumber production also posted a gain while trucks and rail-freight were

unchanged. Production of cars, oil, and coal were down, as was raw steel, whose

rate of capability utilization fell to 91%.

BusinessWeek Index
PRODUCTION INDICATORS
                                            LATEST         WEEK        YEARLY
                                             WEEK          AGO          % CHG
      
      STEEL (11/22) thous. of net tons        2,180      2,160 #         8.9
      AUTOS (11/22) units                   130,379    130,970 r#       -0.1
      TRUCKS (11/22) units                  141,370    143,054 r#        9.6
      ELECTRIC POWER (11/22)
        millions of kilowatt-hrs.            NA         62,582 #          NA
      CRUDE-OIL REFINING (11/22)
        thous. of bbl./day                   NA         14,418 #          NA
      COAL (11/15) thous. of net tons        20,792 #   20,999           1.2
      LUMBER (11/15) millions of ft.          475.5 #    455.8          -1.7
      RAIL FREIGHT (11/15)
       billions of ton-miles                   27.1 #     27.2           2.7
      
      Sources: American Iron & Steel Institute, Ward's Automotive Reports, Edison 
      Electric Institute, American Petroleum Institute, Energy Dept., WWPA*, SFPA**, 
      Association of American Railroads
      
      LEADING INDICATORS
                                                LATEST       WEEK         YEARLY
                                                 WEEK         AGO         % CHG
      
      STOCK PRICES (11/21) S&P 500              963.09        928.35       28.6
      CORPORATE BOND YIELD, Aaa (11/21)           6.83 %        6.89 %     -3.1
      INDUSTRIAL MATERIALS PRICES (11/21)        103.2         103.3       -3.0
      BUSINESS FAILURES (11/14)                    NA            NA          NA
      REAL ESTATE LOANS (11/12) billions           NA            NA          NA
      MONEY SUPPLY, M2 (11/10) billions       $3,985.4      $3,991.1 r      5.0
      INITIAL CLAIMS, UNEMPLOYMENT (11/15) thous.  333           313       -3.8
      
      Sources: Standard & Poor's, Moody's, Journal of Commerce (index: 1990=100), 
      Federal Reserve, Labor Dept.
      
      PRICES
                                             LATEST         WEEK       YEARLY
                                              WEEK           AGO       % CHG
      
      GOLD (11/25) $/troy oz.                300.700       305.950     -19.5
      STEEL SCRAP (11/24) #1 heavy, $/ton     143.50        143.50      23.2
      COPPER (11/21)  cents/lb.                 89.2          92.4     -18.2
      ALUMINUM (11/21)  cents/lb.               79.5          79.0       9.8
      COTTON (11/21) strict
        low middling 1-1/16 in.,  cents/lb.    68.51         68.69      -3.1
      OIL (11/24) $/bbl.                       19.06         19.71     -26.4
      CRB FOODSTUFFS (11/24) 1967=100         248.73        251.52       7.3
      CRB RAW INDUSTRIALS (11/24) 1967=100    323.99        327.42      -3.0
      
      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 (11/25)                   127.60        127.37       112.55
      GERMAN MARK (11/25)                      1.74          1.73         1.53
      BRITISH POUND (11/25)                    1.68          1.69         1.67
      FRENCH FRANC (11/25)                     5.84          5.80         5.17
      ITALIAN LIRA (11/25)                   1710.5        1696.8       1514.5
      CANADIAN DOLLAR (11/25)                  1.42          1.42         1.34
      MEXICAN PESO (11/25)***                 8.234         8.280        7.876
      TRADE-WEIGHTED DOLLAR INDEX (11/25)     107.6         107.2         97.7
      
      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 (11/24)                     5.51 %      5.45 %      5.38 %
      COMMERCIAL PAPER (11/24) 3-month          5.67        5.66        5.41
      CERTIFICATES OF DEPOSIT (11/25) 3-month   5.78        5.77        5.38
      FIXED MORTGAGE (11/21) 30-year            7.38        7.37        7.76
      ADJUSTABLE MORTGAGE (11/21) one-year      5.77        5.68        5.75
      PRIME (11/21)                             8.50        8.50        8.25
      
      Sources: Federal Reserve, HSH Associates, Bloomberg Financial Markets
      
      BW production index copyright 1997 Bloomberg L.P.
      #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. *=Western Wood Products Assn.   **=Southern Forest 
      Products Assn.    ***=Free market value   NA=Not available   r=revised   NM=Not 
      meaningful
      
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