Online Extra: Production Index Components

PRODUCTION INDICATORS LATEST WEEK YEARLY WEEK AGO% CHG

STEEL 8/2 thous. of net tons 1,887 1,903# -5.1 AUTOS 8/2 units 83,860 91,338r# -17.5 TRUCKS 8/2 units 142,000 126,012r# -2.5 ELECTRIC POWER 8/2 millions of kilowatt-hrs. 85,901 84,354# -5.2 CRUDE-OIL REFINING 8/2 thous. of bbl./day 15,547 15,490# 1.6 COAL 7/26 thous. of net tons 20,283# 20,409 0.8 LUMBER 7/26 millions of ft. 510.1# 504.3r -5.7 RAIL FREIGHT 7/26 billions of ton-miles 28.8# 28.1 -1.4

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 7/25 1992=100 127.2 127.3r 7.3 STOCK PRICES 7/31 S&P 500 980.2 998.7 13.4 CORPORATE BOND YIELD, Aaa 7/31 5.9% 5.7% -9.0 MONEY SUPPLY, M2 7/21 billions $6,081.1 $6,084.6r 7.8 INITIAL CLAIMS, UNEMPLOYMENT 8/1 thous. 390 393r 2.1 MORTGAGE APPLICATIONS, PURCHASE 8/1 456.4 426.4 22.0 MORTGAGE APPLICATIONS, REFINANCE 8/1 4047.5 4145.8 -20.6

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 8/6 $/troy oz. 352.000 357.750 12.7 STEEL SCRAP 8/5 #1 heavy, $/ton 108.83 108.83 12.4 COPPER 8/1 cents/lb. 85.0 82.2 17.1 ALUMINUM 8/1 cents/lb. 69.5 67.0 9.0 COTTON 8/1 strict low middling 1-1/16 in., cents/lb 55.88 57.20 31.2 OIL 8/6 $/bbl. 31.31 30.30 19.2 CRB FOODSTUFFS 8/5 1967=100 231.22 232.81 5.1 CRB RAW INDUSTRIALS 8/5 1967=100 263.26 265.96 9.6

Sources: London Wednesday final setting, Iron Age Scrap Price Bulletin, Metals Week, Memphis market, NYMEX, Commodity Research Bureau

FOREIGN EXCHANGE LATEST WEEK YEAR WEEK AGO AGO

BRAZILIAN REAL 8/6 3.0525 2.9685 3.0175 BRITISH POUND 8/6 1.61 1.62 1.54 CANADIAN DOLLAR 8/6 1.40 1.40 1.58 EUROPEAN EURO 8/6 1.1334 1.1345 0.9748 JAPANESE YEN 8/6 120.28 120.27 120.17 KOREAN WON 8/6 1185.0 1179.9 1203.4 MEXICAN PESO 8/6 10.710 10.477 9.740 TRADE-WEIGHTED DOLLAR INDEX 8/6 98.0 97.7 115.8

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 8/5 0.86% 1.04% 1.74% COMMERCIAL PAPER 8/5 3-month 1.04 1.05 1.68 CERTIFICATES OF DEPOSIT 8/5 3-month 1.08 1.07 1.70 FIXED MORTGAGE 7/31 30-year 6.37 6.08 6.53 ADJUSTABLE MORTGAGE 7/31 one-year 3.95 5.77 4.64 PRIME 7/31 4.00 4.00 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. 3=Free market value NA=Not available r=revised NM=Not meaningful

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