Online Extra: Production Index Components

PRODUCTION INDICATORS
      
                                                           LATEST      WEEK   YEARLY
                                                             WEEK       AGO    % CHG
      STEEL               11/6 thous. of net tons           1,962     2,031#     6.7
      AUTOS               11/6 units                       79,570    81,777r#  -18.8
      TRUCKS              11/6 units                      147,142   170,028r#  -15.0
      ELECTRIC POWER      11/6 millions of kilowatt-hrs.   69,395    71,422#    -0.7
      CRUDE-OIL REFINING  11/6 thous. of bbl./day          15,317    14,976#     1.6
      COAL               10/30 thous. of net tons          21,484#   21,598      2.7
      LUMBER             10/30 millions of ft.              571.4#    553.3r     6.7
      RAIL FREIGHT       10/30 billions of ton-miles         33.1#     32.7      5.4
      
      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               10/29 1992=100      132.0       130.4r    1.5
      STOCK PRICES                      11/5 S&P 500      1166.2      1130.2    10.7
      CORPORATE BOND YIELD, Aaa         11/5                 5.6%        5.4%   -4.0
      MONEY SUPPLY, M2                 10/25 billions   $6,354.6    $6,349.7     4.5
      INITIAL CLAIMS, UNEMPLOYMENT      11/6 thous.          333         331r  -10.5
      MORTGAGE APPLICATIONS, PURCHASE   11/6               483.0       496.5    28.7
      MORTGAGE APPLICATIONS, REFINANCE  11/6              2148.7      2303.9     3.1
      
      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                11/10 $/troy oz.             433.400   423.500     11.2
      STEEL SCRAP         11/10 #1 heavy, $/ton         249.33    221.83     79.2
      COPPER               11/5 cents/lb.               139.8     134.6      41.7
      ALUMINUM             11/5 cents/lb.                91.2      88.7      26.2
      COTTON               11/5 strict low middling
                                1-1/16 in., cents/lb.    46.24     47.71    -37.9
      OIL                 11/10 $/bbl.                   48.62     50.56     56.8
      CRB FOODSTUFFS       11/9 1967=100                268.11    257.05      4.0
      CRB RAW INDUSTRIALS  11/9 1967=100                319.55    315.22      7.1
      
      Sources: London Wednesday final setting, Iron Age Scrap Price Bulletin,
      Platts Metals Week, Memphis market, NYMEX, Commodity Research Bureau
      
      
      FOREIGN EXCHANGE
      
                                                 LATEST         WEEK         YEAR
                                                   WEEK          AGO          AGO
      BRAZILIAN REAL                 11/10       2.8252       2.8285       2.9035
      BRITISH POUND                  11/10         1.85         1.85         1.67
      CANADIAN DOLLAR                11/10         1.19         1.21         1.30
      EUROPEAN EURO                  11/10       1.2889       1.2821       1.1633
      JAPANESE YEN                   11/10       107.13       106.23       108.86
      KOREAN WON                     11/10       1110.4       1116.2       1174.4
      MEXICAN PESO                   11/10       11.424       11.438       11.122
      TRADE-WEIGHTED DOLLAR INDEX    11/10         90.1         90.4         94.4
      
      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             11/9                1.79%        1.74%        0.99%
      COMMERCIAL PAPER          11/8  3-month       NA           NA           1.03
      CERTIFICATES OF DEPOSIT   11/9  3-month       2.23         2.14         2.12
      FIXED MORTGAGE            11/5  30-year       5.80         5.77         6.14
      ADJUSTABLE MORTGAGE       11/5  one-year      4.09         4.01         3.98
      PRIME                     11/9                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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