Online Extra: Production Index Components

PRODUCTION INDICATORS

LATEST WEEK YEARLY WEEK AGO % CHG STEEL 8/28 thous. of net tons 2,023 1,997# 16.1 AUTOS 8/28 units 81,312 91,185r# -13.3 TRUCKS 8/28 units 154,244 152,237r# 2.5 ELECTRIC POWER 8/28 millions of kilowatt-hrs. 83,904 79,917# -5.1 CRUDE-OIL REFINING 8/28 thous. of bbl./day 16,275 16,253# 5.1 COAL 8/21 thous. of net tons 21,347# 21,525 922.9 LUMBER 8/21 millions of ft. 585.3# 568.0 9.6 RAIL FREIGHT 8/21 billions of ton-miles 30.8# 31.1 1.7

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 ECRI LEADING INDEX 8/20 1992=100 131.4 131.7 3.2 STOCK PRICES 8/27 S&P 500 1107.8 1098.4 9.9 CORPORATE BOND YIELD, Aaa 8/27 5.6% 5.6% -3.9 MONEY SUPPLY, M2 8/16 billions $6,294.7 $6,273.6r 1.9 INITIAL CLAIMS, UNEMPLOYMENT 8/28 thous. 362 343 -13.6 MORTGAGE APPLICATIONS, PURCHASE 8/28 443.1 443.7 11.9 MORTGAGE APPLICATIONS, REFINANCE 8/28 1804.1 1824.9 -9.0

Sources: Economic Cycle Research Institute, Standard & Poor's, Moody's, Fed- eral Reserve, Labor Dept., Mortgage Bankers Assn. (Index: March 16, 1990=100)

PRICES

LATEST WEEK YEARLY WEEK AGO % CHG GOLD 9/1 $/troy oz. 407.650 406.000 10.2 STEEL SCRAP 9/1 #1 heavy, $/ton 235.00 235.00 96.3 COPPER 8/27 cents/lb. 130.1 134.7 55.2 ALUMINUM 8/27 cents/lb. 83.8 84.5 24.1 COTTON 8/27 strict low middling 1-1/16 in., cents/lb. 51.34 50.19 -7.6 OIL 9/1 $/bbl. 43.64 43.17 49.5 CRB FOODSTUFFS 8/31 1967=100 277.74 274.25 17.1 CRB RAW INDUSTRIALS 8/31 1967=100 311.46 311.39 16.5

Sources: London Wednesday final setting, Iron Age Scrap Price Bulletin, Metals Week, Memphis market, NYMEX, Commodity Research Bureau

FOREIGN EXCHANGE

LATEST WEEK YEAR WEEK AGO AGO BRAZILIAN REAL 9/1 2.9351 2.9546 2.9610 BRITISH POUND 9/1 1.79 1.80 1.57 CANADIAN DOLLAR 9/1 1.31 1.30 1.38 EUROPEAN EURO 9/1 1.2188 1.2083 1.0846 JAPANESE YEN 9/1 109.52 110.18 115.90 KOREAN WON 9/1 1151.2 1156.4 1174.3 MEXICAN PESO 9/1 11.436 11.380 10.919 TRADE-WEIGHTED DOLLAR INDEX 9/1 93.7 93.9 98.4

Sources: Major New York banks. Currencies expressed in units per U.S. dollar, except for British Pound and European Euro in dollars. Trade-weighted dollar via J.P. Morgan.

INTEREST RATES

LATEST WEEK YEAR WEEK AGO AGO FEDERAL FUNDS 8/31 1.55% 1.51% 1.06% COMMERCIAL PAPER 8/31 3-month 1.65 1.65 1.04 CERTIFICATES OF DEPOSIT 8/31 3-month 1.76 1.71 1.09 FIXED MORTGAGE 8/27 30-year 5.97 5.96 6.52 ADJUSTABLE MORTGAGE 8/27 one-year 4.10 4.14 4.19 PRIME 8/31 4.50 4.50 4.00

Sources: Federal Reserve, HSH Associates, Bloomberg Financial Markets

#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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