Business Week Index

PRODUCTION INDEX

The production index moved up in the week ended Aug. 1, while the unaveraged index fell 0.7% to 132.7, from 133.6. For the month of July, the index dropped 131.7, off 0.9% from June's figure of 132.9. After seasonal adjustment, steel and coal output increased as did rail-freight traffic. The Association of American Railroads attributes the increase in coal traffic to the record hot summer weather. Production levels of autos, trucks, electricity, oil, and lumber all were down.

BW production index copyright 1998 Bloomberg L.P.

BusinessWeek Index
PRODUCTION INDICATORS
                                                    LATEST     WEEK      YEARLY
                                                     WEEK      AGO       % CHG
      STEEL (8/8) thous. of net tons                 2,061     2,066#      4.0
      AUTOS (8/8) units                            113,607    79,666r#    -5.1
      TRUCKS (8/8) units                           117,168    84,901r#     6.6
      ELECTRIC POWER (8/8) millions                 75,425    76,391#      5.0
       of kilowatt-hrs.
      CRUDE-OIL REFINING (8/8) thous. of bbl./day   15,247    15,431#      3.8
      COAL (8/1) thous. of net tons                 21,223#   21,373       7.6
      LUMBER (8/1) millions of ft.                   505.0#    508.0       0.3
      RAIL FREIGHT (8/1) billions of ton-miles        26.1#     25.8       2.4
      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 (8/7) S&P 500                 1089.45    1120.67    16.7
      CORPORATE BOND YIELD, Aaa (8/7)            6.52%      6.59%     -10.6
      MONEY SUPPLY, M2 (7/27) billions          $4,213.4   $4,208.9r    7.3
      INITIAL CLAIMS, UNEMPLOYMENT (7/31) thous. 307        301r        0.7
      MORTGAGE APPLICATIONS, PURCHASE (8/7)      254.7      257.2      15.5
      MORTGAGE APPLICATIONS, REFINANCE (8/7)     1,291.9    1,278.8    79.7
      Sources: Standard & Poor's, Moody's, Federal Reserve, Labor Dept., Mortgage
      Bankers Assn. (Index: March 16, 1990=100)
      
      PRICES
                                              LATEST       WEEK       YEARLY
                                              WEEK         AGO        % CHG
      GOLD (8/12) $/troy oz.                  285.050      287.900    -12.6
      STEEL SCRAP (8/11) #1 heavy, $/ton      120.50       130.50     -17.7
      COPPER (8/6)  cents/lb.                 77.5         81.4       -29.6
      ALUMINUM (8/6)  cents/lb.               63.5         66.3       -23.3
      COTTON (8/8) strict low middling
       1-1/16 in.,  cents/lb.                 70.41        71.01      -2.8
      OIL (8/11) $/bbl.                       12.59        13.52      -36.6
      CRB FOODSTUFFS (8/11) 1967=100          225.43       224.04     -5.3
      CRB RAW INDUSTRIALS (8/11) 1967=100     291.23       294.44     -14.8
      Sources: London Wednesday final setting, Chicago market, Metals Week, Memphis
      market, NYMEX, Commodity Research Bureau
      
      INTEREST RATES
                                              LATEST    WEEK      YEAR
                                              WEEK      AGO       AGO
      FEDERAL FUNDS (8/11)                    5.47%     5.54%     5.50%
      COMMERCIAL PAPER (8/11) 3-month         5.49      5.51      5.57
      CERTIFICATES OF DEPOSIT (8/12) 3-month  5.58      5.59      5.57
      FIXED MORTGAGE (8/6) 30-year            7.04      7.05      7.60
      ADJUSTABLE MORTGAGE (8/6) one-year      5.78      5.79      5.69
      PRIME (8/6)                             8.50      8.50      8.50
      Sources: Federal Reserve, HSH Associates, Bloomberg Financial Markets
      
      FOREIGN EXCHANGE
                                              LATEST     WEEK       YEAR
                                              WEEK       AGO        AGO
      JAPANESE YEN (8/12)                     145.87     144.06     115.65
      GERMAN MARK (8/12)                      1.78       1.77       1.83
      BRITISH POUND (8/12)                    1.63       1.64       1.58
      FRENCH FRANC (8/12)                     5.95       5.94       6.19
      ITALIAN LIRA (8/12)                     1751.5     1747.0     1794.9
      CANADIAN DOLLAR (8/12)                  1.51       1.51       1.39
      MEXICAN PESO (8/12)3                    9.172      9.010      7.775
      TRADE-WEIGHTED DOLLAR INDEX (8/12)      115.4      114.8      106.3
      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.
      
      #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