PRODUCTION
      Change from last week:  0.3%
      Change from last year:  3.9%
      The production index rose during the week ended June 25. Seasonally adjusted 
      output of autos, trucks, crude-oil refining, coal, paperboard, and rail-freight 
      traffic all increased. Electric power output fell back after the end of a heat 
      wave in the East and lumber and paper production dropped as well. Steel output 
      was unchanged from the previous week. Before calculation of the four-week 
      moving average, the index fell to 197.6, from 197.8.
      BW production index copyright 1994 Bloomberg L.P.
      
      LEADING
      Change from last week:  0%
      Change from last year:  7.6%
      The leading index was unchanged during the week ended June 25. Sharply lower 
      stock prices and higher bond yields combined with slower growth rates in 
      materials prices, real estate loans, and M2 money supply to signal slower U.S. 
      economic growth in coming months. Data on large-business failures were 
      unavailable. Before calculation of the four-week moving average, the index 
      dropped to 236.7, from a revised 238.2 in the previous week.
      Leading index copyright 1994 by Center for International Business Cycle Research
      
      
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