Online Extra: Production Index Components

      
      PRODUCTION INDICATORS
      
                                                          LATEST       WEEK   YEARLY
                                                            WEEK        AGO    % CHG                                                           
      STEEL              10/30 thous. of net tons          2,031     2,019#     4.7
      AUTOS              10/30 units                      84,572    84,675r#  -15.2
      TRUCKS             10/30 units                     167,371   169,455r#    3.8
      ELECTRIC POWER     10/30 millions of kilowatt-hrs.  71,422    70,854#     2.5
      CRUDE-OIL REFINING 10/30 thous. of bbl./day         14,976    14,838#    -2.7
      COAL               10/23 thous. of net tons         21,598#   21,670      2.2
      LUMBER             10/23 millions of ft.             552.9#    565.4r     4.0
      RAIL FREIGHT       10/23 billions of ton-miles        32.7#     33.1      1.9
      
      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               10/22 1992=100      130.6      131.6      1.6
      STOCK PRICES                     10/29 S&P 500      1130.2     1095.7      7.6
      CORPORATE BOND YIELD, Aaa        10/29                 5.4%       5.4%    -4.9
      MONEY SUPPLY, M2                 10/18 billions   $6,349.7   $6,327.0r     4.4
      INITIAL CLAIMS, UNEMPLOYMENT     10/30 thous.          332        351r    -9.0
      MORTGAGE APPLICATIONS, PURCHASE  10/30               496.5      440.9     22.8
      MORTGAGE APPLICATIONS, REFINANCE 10/30              2303.9     2233.8     -0.7
      
      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                 11/3 $/troy oz.               423.500   428.250      11.8
      STEEL SCRAP          11/3 #1 heavy, $/ton           221.83    221.83      74.0
      COPPER              10/29 cents/lb.                  134.6     135.8      40.2
      ALUMINUM            10/29 cents/lb.                   88.7      89.8      23.2
      COTTON              10/29 strict low middling        
                                1-1/16 in., cents/lb.      47.71     48.69     -39.4
      OIL                  11/3 $/bbl.                     50.56     52.26      68.3
      CRB FOODSTUFFS       11/2 1967=100                  257.05    258.52       1.9
      CRB RAW INDUSTRIALS  11/2 1967=100                  315.22    313.14       6.0
      
      Sources: London Wednesday final setting, Iron Age Scrap Price Bulletin,
      Platt's Metals Week, Memphis market, NYMEX, Commodity Research Bureau
      
      
      FOREIGN EXCHANGE
      
                                              LATEST         WEEK        YEAR
                                                WEEK          AGO         AGO
      BRAZILIAN REAL                 11/3     2.8285       2.8615      2.8680
      BRITISH POUND                  11/3       1.85         1.83        1.67
      CANADIAN DOLLAR                11/3       1.21         1.23        1.33
      EUROPEAN EURO                  11/3     1.2821       1.2713      1.1439
      JAPANESE YEN                   11/3     106.23       106.44      109.89
      KOREAN WON                     11/3     1116.2       1128.4      1184.5
      MEXICAN PESO                   11/3     11.438       11.518      10.978
      TRADE-WEIGHTED DOLLAR INDEX    11/3       90.4         91.0        95.4
      
      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                11/2                1.74%       1.72%       0.98%
      COMMERCIAL PAPER             11/1  3-month       NA          NA          1.06
      CERTIFICATES OF DEPOSIT      11/2  3-month       2.14        2.06        1.10
      FIXED MORTGAGE              10/29  30-year       5.77        5.81        6.11
      ADJUSTABLE MORTGAGE         10/29  one-year      4.01        4.04        3.96
      PRIME                        11/2                4.75        4.75        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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