Business Week Index

PRODUCTION INDEX

The production index was up in the week ended Oct. 31. The unaveraged index

also increased, to 135.6, from 134.7 in the previous week. After seasonal

adjustment, rail-freight traffic was up 2.7%, and the Association of American

Railroads reported that this week intermodal traffic set a record high. Output

of electricity, oil, coal, and lumber also increased. For October, the index

fell 1.1% to 134.9, from September's reading of 136.4.

BW production index copyright 1998 Bloomberg L.P.

BusinessWeek Index
PRODUCTION INDICATORS
      
                                                        LATEST    WEEK      YEARLY
                                                        WEEK      AGO%       CHG
      STEEL (11/7) thous. of net tons                   1,841     1,920 #    -15.7
      AUTOS (11/7) units                                126,756   132,386r#  -5.6
      TRUCKS (11/7) units                               146,229   148,588r#  -1.2
      ELECTRIC POWER (11/7) millions of kilowatt-hrs.   NA        61,192#     NA
      CRUDE-OIL REFINING (11/7) thous. of bbl./day      14,774    14,456#     2.1
      COAL (10/31) thous. of net tons                   22,359#   22,088     10.3
      LUMBER (10/31) millions of ft.                    512.8 #   498.8      11.3
      RAIL FREIGHT (10/31) billions of ton-miles        28.7#     28.3        7.5
      
      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 (11/6) S&P 500                  1141.01     1098.67      23.0
      CORPORATE BOND YIELD, Aaa (11/6)             6.61%       6.47%        -4.3
      MONEY SUPPLY, M2 (10/26) billions            $4,361.5    $4,344.2r     8.9
      INITIAL CLAIMS, UNEMPLOYMENT (10/30) thous.  312         301          -1.9
      MORTGAGE APPLICATIONS, PURCHASE (11/6)       291.9       249.3        44.4
      MORTGAGE APPLICATIONS, REFINANCE (11/6)      1,987.0     2,495.7     146.8
      
      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 (11/11) $/troy oz.                   293.500    289.400     -4.8
      STEEL SCRAP (11/10) #1 heavy, $/ton       85.50      85.50      -40.4
      COPPER (11/6)  cents/lb.                  76.3       74.9       -18.2
      ALUMINUM (11/6)  cents/lb.                62.5       61.8       -19.9
      COTTON (11/6) strict low middling
       1-1/16 in.,  cents/lb.                   66.13      65.64       -5.7
      OIL (11/10) $/bbl.                        13.18      13.91      -34.8
      CRB FOODSTUFFS (11/10) 1967=100           219.52     217.65     -12.7
      CRB RAW INDUSTRIALS (11/10) 1967=100      267.22     274.44     -18.7
      
      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 (11/11)                    121.65      116.40     126.06
      GERMAN MARK (11/11)                     1.68        1.67       1.73
      BRITISH POUND (11/11)                   1.66        1.66       1.70
      FRENCH FRANC (11/11)                    5.63        5.59       5.78
      ITALIAN LIRA (11/11)                    1659.0      1649.5     1688.5
      CANADIAN DOLLAR (11/11)                 1.55        1.52       1.41
      MEXICAN PESO (11/11)3                   10.020      9.950      8.340
      TRADE-WEIGHTED DOLLAR INDEX (11/11)     108.0       106.1      106.5
      
      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 (11/9)                    4.95%       5.04%       5.50%
      COMMERCIAL PAPER (11/10) 3-month        5.15        5.05        5.60
      CERTIFICATES OF DEPOSIT (11/10) 3-month 5.30        5.29        5.77
      FIXED MORTGAGE (11/6) 30-year           7.03        6.96        7.38
      ADJUSTABLE MORTGAGE (11/6) one-year     5.65        5.58        5.65
      PRIME (11/6)                            8.00        8.00        8.50
      
      Sources: American Iron & Steel Institute, Ward's Automotive Reports, Edison 
      Electric Institute, American Petroleum Institute, Energy Dept., WWPA1, SFPA2, 
      Association of American Railroads
      
      #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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