Online Extra: Production Index Components

        
PRODUCTION INDICATORS
      
                                                           LATEST      WEEK   YEARLY
                                                             WEEK       AGO    % CHG
      STEEL               11/5 thous. of net tons           1,960     1,966#    -0.1
      AUTOS               11/5 units                       83,974    90,495r#    3.5
      TRUCKS              11/5 units                      147,827   162,394r#    0.1
      ELECTRIC POWER      11/5 millions of kilowatt-hrs.   69,726    69,348#     0.5
      CRUDE-OIL REFINING  11/5 thous. of bbl./day          14,297    13,776#    -6.7
      COAL               10/29 thous. of net tons          21,259#   21,539     -1.0
      LUMBER             10/29 millions of ft.              365.2#    380.5    -36.1
      RAIL FREIGHT       10/29 billions of ton-miles         34.8#     35.2      0.0
      
      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               10/28 1992=100      134.7      135.6      2.1
      STOCK PRICES                      11/4 S&P 500      1220.1     1198.4      4.6
      CORPORATE BOND YIELD, Aaa         11/4                 5.5%       5.4%    -0.5
      MONEY SUPPLY, M2                 10/24 billions   $6,636.5    $6,635.5     4.1
      INITIAL CLAIMS, UNEMPLOYMENT      11/5 thous.          326        324r    -1.5
      MORTGAGE APPLICATIONS, PURCHASE   11/5               465.7      437.6     -3.6
      MORTGAGE APPLICATIONS, REFINANCE  11/5              1798.8     1862.8    -16.3
      
      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                11/9 $/troy oz.              462.550    460.800       6.7
      STEEL SCRAP         11/9 #1 heavy, $/ton          208.00     208.00     -16.6
      COPPER              11/4 cents/lb.                195.9      199.0       40.2
      ALUMINUM            11/4 cents/lb.                 95.4       92.5        4.7
      COTTON              11/4 strict low middling       
                               1-1/16 in., cents/lb.     53.09      54.53      14.8
      OIL                 11/9 $/bbl.                    59.33      60.10      22.0
      CRB FOODSTUFFS      11/8 1967=100                 252.96     255.61      -5.7
      CRB RAW INDUSTRIALS 11/8 1967=100                 333.18     332.01       4.3
      
      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                  11/9      2.1755        2.2385        2.8252
      BRITISH POUND                   11/9        1.74          1.78          1.85
      CANADIAN DOLLAR                 11/9        1.19          1.18          1.19
      EUROPEAN EURO                   11/9      1.1765        1.2073        1.2889
      JAPANESE YEN                    11/9      117.52        116.88        107.13
      KOREAN WON                      11/9      1046.3        1039.5        1110.4
      MEXICAN PESO                    11/9      10.732        10.738        11.424
      TRADE-WEIGHTED DOLLAR INDEX     11/9        92.4          91.6          90.1
      
      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              11/8                  3.95%      3.99%      1.79%
      COMMERCIAL PAPER           11/7  3-month         NA         NA         NA
      CERTIFICATES OF DEPOSIT    11/8  3-month         4.26       4.23       2.23
      FIXED MORTGAGE             11/4  30-year         6.41       6.29       5.80
      ADJUSTABLE MORTGAGE        11/4  one-year        5.24       5.17       4.09
      PRIME                      11/8                  7.00       7.00       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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