European Stars and Stripes (Newspaper) - September 29, 1991, Darmstadt, Hesse                                Sunday september 29, 1991 the stars and stripes Page 15money matters Dollar watch shown below Are the highest Dollar Exchange rates for the week of sept. 22 sept. 29 compared with Dollar rates for the same period one year and five years ago. British Pound one Pound would Cost you $1.77 $1-84 1 $1.43 1991 i 1990 i 1986 German Mark one Dollar would buy you 166 1.55 2.03 1 1991 199c 1986 i a military Exchange rate dutch Guilder one Dollar would buy you 134.55 106.65 98.17 a 1991 1990 1986 i a amps v-1 /1 >v-. Dollar held steady last week the Dollar did t waiver much last week in european trading As International upheavals continued to counter drops that might have resulted from a slow . Economic recovery and a Gap Between . And european interest rates. A stable a generally stable week a said an economist with  a Hanover in Frankfurt Germany. A not really bad or Good pretty much in the Middle a she said. Quot i think As Long As so Many things Are confused in Many countries there will not be much change in the Dollar  by weeks end the Dollar lost 2 Pfenning against the Deutsch Mark. The official Exchange rate at military banking facilities and finance offices through tomorrow is 1.64. The British Pound after lowering at midweek was set Friday at $1.77, the same Exchange rate that began the week. Uncertainty in the Mideast and Romania a weakens the Mark and strengthens just a bit the Dollar a said Gunter Teich of Bank of America in Frankfurt. Higher . Unemployment lower Gross National product and slow new car sales figures released last week discouraged currency traders in Europe from showing interest in the Dollar Teich said. The Only positive economic news released last week was the decline in durable goods orders. The drop of 3.8 percent in August was substantially less than the 4.8 to 5.2 percent drop that economists had predicted. Another Factor keeping Exchange rates Low is the difference Between . And european interest rates. The Gap makes it cheaper for non-. Investors to keep their own currencies and encourages . Traders to invest their assets overseas. Consumer reluctance to spend taking Bounce out of rebound by John i. Mcclain the associated press Washington Consumers despite income growth of 0.4 percent in August increased spending a scant 0.1 percent the government said Friday in a report showing they Are not providing their usual boost to the economic recovery. During past downturns Consumers used their economic muscle to lift the Economy out of the recession. Their spending represents two thirds of the nation s economic activity. A obviously Consumers Are not leading the Way out of the recession this time said economist Lawrence a. Hunter of the . Chamber of Commerce. A a it a going to be awhile before we see consumer spending perk up a agreed Sung won Sohn an economist with the Norwest corp. Of Minneapolis. A the fundamentals Are not there a jobs income growth and rising  the Commerce department report showed incomes totalling $4.82 trillion at a seasonally adjusted annual rate in August up from $4.80 trillion a month earlier and the sixth straight Advance. The initial 0.1 percent decline reported for july was revised in fridays report to a 0.2 percent gain. Disposable income a income after taxes a Rose 0.5 percent in july after remaining unchanged a month earlier. Personal consumption on the other hand reflected a s3.s40 trillion annual rate up from $3,837 trillion in july but the smallest increase since spending actually fell 0.5 percent last april. Administration budget director Richard g. Darynn acknowledged in an Abc to interview earlier last week that consumer Confidence was the missing element needed for a Strong rebound. A there s a problem with personal spending a he said. A the consumer is not yet really in this recovery and we need the consumer to have More Confidence and get  the spending and income figures were not adjusted for inflation leading Hunter to suggest the increase in consumer spending in August was a an  Quot when adjusted for inflation a he said Quot spending actually was Down 0.2 percent. There is reason to believe that consumer spending May not grow at All in the next several months. And economist Gordon Richards of the National association of manufacturers said even if the inflation adjusted 0.2 percent gain in disposable incomes were sustained Over the next 12 months it would translate into Only a 2 4 Pic Cal increase. That he said is Quot scat Cek enough to dec Eleiane the Leo nov Quot a key component of the income category a wages and salaries Rose $13.7 billion wiping tit a $8.8 billion loss the previous month. The Impan Cmunt had been anticipated following earlier reports tit increases in birth wages and the length of the work week. But Sohn said Quot i Don t think that s going to be repeated in the near future. Employment is really going nowhere. T he number of hours worked is going to slow Down. Wages Are not going up that  the difference Between incomes and spending meant americans savings rate a savings As a percentage of disposable incomes a edged up to 3.9 percent from 3.6 in july. Still that was Down from 4.2 percent in june. Spending on durable goods fell $11.9 billion erasing an $11.6 billion increase in july. Spending on non durable goods such As food and fuel edged up 31.5 billion after a $6.2 billion gain a month earlier. Spending on services Rose $13.9 billion nearly twice the $7.2 billion Advance the previous month. . Stock Market shows Little life As economic recovery sputters new York up a the Stock Market wandered aimlessly for most of the week with cautious investors showing Little conviction that the . Economy had As some government officials contend indeed turned the Corner. For the week the Dow Jones Industrial average slipped 13.19 to close at 3006.04, a decline of slightly less than half of a percent. Among broader Market indexes the new York Stock Exchange composite Index eased 0.77 to 212.21, and the Standard amp poor a 500 Index shed 2.02 to 385.90. Advancing issues edged decliners 978934 among the 2,217 issues traded that week. Weekly big Board volume totalled 781,859,580 shares Down from 943,361,401 traded a week earlier and 857,508,870 in the same week a year ago. The Market opened the week on an ambivalent note As Blue Chip stocks traded in a narrow Range for most of the session before falling late monday afternoon. The Dow Industrial average slipped 8.72. After Drifting through most of tuesday the Blue chips staged a late rally fuelled by futures related buying boosting the Dow 18.56. On wednesday the Blue chips drifted lower in sluggish trading while smaller issues reached record Levels. The Dow eased 8.05. Prices closed mixed thursday on Light volume As Many investors continued to stay on the sidelines. The Dow slipped another 3.80, while advancing issues outpaced decliners 877-709. Prices were also mixed Friday in moderate trading As computer driven sell programs pushed the Market lower late in the session. T he Dow slipped 11.18, but advancing issues again nosed out decliners 768-762. While a number of individual stocks were Active a mostly heading South a the Market As a whole traded in a narrow Range for most of the week. In the absence of any significant Market moving news analysts said the Market was largely driven by professional trading with Many smaller investors staying on the sidelines. Weighing on the minds of Many traders analysts added was concern about disappointing third Quarter corporate earnings and the rapid approach of october a historically a volatile month for equities. A the Market spent a lot of time milling about this week a said Hildegard Zagorski Market analyst at Prudential securities. Analysts said Many investors were waiting for  unemployment figures Tor september to gauge the state of the nations Economy and would then take Stock of the markets direction. Specifically it May will shed some Light on whether the Federal Reserve might move to Cut Domestic interest rates by loosening credit policy once again. On the trading floor last week at amp to was the most Active Issue on the big Board off a a to 371/. Community psychiatric centers followed plummeting love to 17 it. After recording a charge the Hospital company a third Quarter earnings per share tumbled to a Penny is. 43 cents a year ago. The company also said it has modified proposals to acquire healthcare International and Healthiest. Pepsico was third easing a i to 28vk. Rwjr Nabisco followed off Vuk to Pivk. It e w As fifth adding 1 Vuk to 11 Vuk. Volume of nose listed issues including trades in stocks on regional exchanges and in the Over the counter Market totalled 955,650,940 shares off from 1,127,201,971 traded in the previous week and with 1,027,662,560 a year ago. On the american Stock Exchange the amex Market value Index Rose 0.27 to close Friday at 373.89. For the week the Index climbed 3.29. Declines edged advances 411-391 among the 1,006 issues traded for the week. Market update 1 activity for the week of september 23-27,1991 daily Dow closes 3100 _ orca 3,006.04 u 3050 r 3000 a 2950 2900  2850  , 2800 m t w the f highest close 3,029.07-tues. Weeks High 3,048.52-wed. Lowest close 3,006.04-Fri. Weeks Low 2,989 49-Fri. Weeks change am Down 13.19 aps amps amex volume totalled 89.443. 135. Compared with 84,654,980 shares a week earlier and with 86,804,510 in the same week a year ago. Metro Mobile s lass b shares led the amex actives unchanged at 211 s. M the Wake of Bell Atlantic s $1.65 billion acquisition Oiler for the cellular company