PRODUCTION INDICATORS
      
                                                         LATEST      WEEK    YEARLY
                                                           WEEK       AGO     % CHG
      STEEL              10/8 thous. of net tons          1,995     1,990#     -0.2
      AUTOS              10/8 units                      85,623    90,657r#    -3.6
      TRUCKS             10/8 units                     164,545   169,963r#    -1.2
      ELECTRIC POWER     10/8 millions of kilowatt-hrs.  76,603    76,340#      7.7
      CRUDE-OIL REFINING 10/8 thous. of bbl./day         12,080    11,337#    -17.7
      COAL               10/1 thous. of net tons         21,760#   21,431       0.1
      LUMBER             10/1 millions of ft.             391.9#    393.6       3.2
      RAIL FREIGHT       10/1 billions of ton-miles        33.4#     33.1       1.2
      
      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               9/30 1992=100     135.1      135.5r      2.7
      STOCK PRICES                     10/7 S&P 500     1195.9     1228.8       6.6
      CORPORATE BOND YIELD, Aaa        10/7                5.3%       5.2%     -4.5
      MONEY SUPPLY, M2                 9/26 billions  $6,589.2   $6,592.0r      3.5
      INITIAL CLAIMS, UNEMPLOYMENT     10/8 thous.         389        391r     13.1
      MORTGAGE APPLICATIONS, PURCHASE  10/8              469.5      473.8       7.6
      MORTGAGE APPLICATIONS, REFINANCE 10/8             2004.9     2107.4       2.9
      
      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                 10/12 $/troy oz.            475.100   463.500     15.5
      STEEL SCRAP          10/12 #1 heavy, $/ton        208.00    239.50     -6.2
      COPPER                10/7 cents/lb.              191.9     188.6      29.6
      ALUMINUM              10/7 cents/lb.               88.9      88.0      -2.8
      COTTON                10/7 strict low middling   
                                 1-1/16 in., cents/lb.   54.72     54.51     10.4
      OIL                  10/12 $/bbl.                  63.72     62.84     19.0
      CRB FOODSTUFFS       10/11 1967=100               244.77    255.93     -3.8
      CRB RAW INDUSTRIALS  10/11 1967=100               334.95    330.39      5.4
      
      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                 10/12      2.2545      2.2678      2.8425
      BRITISH POUND                  10/12        1.75        1.76        1.79
      CANADIAN DOLLAR                10/12        1.17        1.18        1.26
      EUROPEAN EURO                  10/12      1.2024      1.1974      1.2348
      JAPANESE YEN                   10/12      114.38      114.01      109.75
      KOREAN WON                     10/12      1043.2      1039.5      1147.4
      MEXICAN PESO                   10/12      10.929      10.717      11.279
      TRADE-WEIGHTED DOLLAR INDEX    10/12        91.4        91.2        92.8
      
      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               10/11                 3.72%     3.75%     1.78%
      COMMERCIAL PAPER            10/10  3-month        NA        NA        NA
      CERTIFICATES OF DEPOSIT     10/11  3-month        4.08      4.05      2.01
      FIXED MORTGAGE               10/7  30-year        6.13      6.05      5.93
      ADJUSTABLE MORTGAGE          10/7  one-year       5.06      4.96      4.07
      PRIME                       10/11                 6.75      6.75      4.75
      
      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. no longer included. Historical data has been adjusted.
      3=Free market value  NA=Not available  r=revised  NM=Not meaningful
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