business

Production Index Components

PRODUCTION INDICATORS
                                                            LATEST      WEEK   
      YEARLY
                                                              WEEK       AGO    % 
      CHG
      STEEL                6/24 thous. of net tons           2,254     2,305#   14.6
      AUTOS                6/24 units                      113,565   124,509r#  -0.1
      TRUCKS               6/24 units                      158,332   163,793r#   7.6
      ELECTRIC POWER       6/24 millions of kilowatt-hrs.   75,543    75,156#    7.8
      CRUDE-OIL REFINING   6/24 thous. of bbl./day          14,889    15,504#    0.0
      COAL                 6/17 thous. of net tons          20,628#   22,237     0.7
      LUMBER               6/17 millions of ft.              502.1#    520.1    -6.4
      RAIL FREIGHT         6/17 billions of ton-miles         26.9#     27.9     2.3
      
      Sources: American Iron & Steel Institute, Ward's Automotive Reports, Edison 
      Electric Institute, American Petroleum Institute, Energy Dept., WWPA, SFPAFD, 
      Association of American Railroads
      
      LEADING INDICATORS
      
                                                           LATEST       WEEK    
      YEARLY
                                                             WEEK        AGO    % 
      CHG
      7ECRI LEADING INDEX                6/16  1992=100      125.1       125.2    
      -0.1
      STOCK PRICES                      6/23  S&P 500     1441.48     1464.46     
      9.6
      CORPORATE BOND YIELD, Aaa         6/23                 7.81%      7.60%     
      5.8
      MONEY SUPPLY, M2                  6/12  billions   $4,773.3   $4,774.4r     
      5.7
      INITIAL CLAIMS, UNEMPLOYMENT      6/16  thous.          304        298r     
      0.3
      MORTGAGE APPLICATIONS, PURCHASE   6/23                305.8       305.7     
      0.6
      MORTGAGE APPLICATIONS, REFINANCE  6/23                319.2       329.3   
      -47.9
      
      Sources: Economic Cycle Research Institute, Standard & Poor's, Moody's, 
      Federal Reserve, Labor Dept., Mortgage Bankers Assn. (Index: March 16, 
      1990=100)
      
      PRICES          
      
                                                       LATEST      WEEK       YEARLY
                                                        WEEK       AGO         % CHG
      GOLD                 6/28  $/troy oz.            288.000   286.050       10.3
      STEEL SCRAP          6/28  #1 heavy, $/ton        103.00    103.00       30.7
      COPPER               6/23  cents/lb.                85.7      84.7       22.1
      ALUMINUM             6/23  cents/lb.                75.8      72.5       15.6
      COTTON               6/23  strict low middling
                                 1-1/16 in., cents/lb.   56.07     56.11        1.4
      OIL                  6/27  $/bbl.                  31.97     33.03       75.1
      CRB FOODSTUFFS       6/27  1967=100               185.77    190.01       -2.2
      CRB RAW INDUSTRIALS  6/27  1967=100               258.04    260.22       -0.7
      
      Sources: London Wednesday final setting, Chicago market, Metals Week, Memphis 
      market, NYMEX, Commodity Research Bureau
      
      FOREIGN EXCHANGE
      
                                            LATEST      WEEK      YEAR
                                              WEEK       AGO       AGO
      BRAZILIAN REAL               6/28     1.8195    1.8115    1.7720
      BRITISH POUND                6/28       1.51      1.50      1.58
      CANADIAN DOLLAR              6/28       1.48      1.47      1.48
      EUROPEAN EURO                6/28     0.9401    0.9453    1.0338
      JAPANESE YEN                 6/28     105.57    105.59    120.92
      KOREAN WON                   6/28     1116.1    1119.3    1157.3
      MEXICAN PESO                 6/28      9.958     9.851     9.452
      TRADE-WEIGHTED DOLLAR INDEX  6/28      110.6       0.0     111.0
      
      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             6/27               6.56%      6.49%       4.91%
      COMMERCIAL PAPER          6/27   3-month     6.58       6.56        5.12
      CERTIFICATES OF DEPOSIT   6/28   3-month     6.74       6.71        5.32
      FIXED MORTGAGE            6/23   30-year     8.33       8.37        7.77
      ADJUSTABLE MORTGAGE       6/23   one-year    7.30       7.38        4.91
      PRIME                     6/23               9.50       9.50        7.75
      
      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 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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