Online Extra: Production Index Components

        
PRODUCTION INDICATORS
      
                                                          LATEST      WEEK    YEARLY
                                                            WEEK       AGO     % CHG
      STEEL              6/25 thous. of net tons           1,877     1,800#     -7.5
      AUTOS              6/25 units                       95,118    91,173r#     9.1
      TRUCKS             6/25 units                      168,458   163,301r#     8.0
      ELECTRIC POWER     6/25 millions of kilowatt-hrs.   81,375    82,800#      7.6
      CRUDE-OIL REFINING 6/25 thous. of bbl./day          16,081    15,897#      2.1
      COAL               6/18 thous. of net tons          21,062#   21,165      -0.6
      LUMBER             6/18 millions of ft.              373.0#    388.7      -6.6
      RAIL FREIGHT       6/18 billions of ton-miles         31.8#     31.8       1.9
      
      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               6/17 1992=100      133.4      134.1       1.1
      STOCK PRICES                     6/24 S&P 500      1191.6     1217.0       5.0
      CORPORATE BOND YIELD, Aaa        6/24                 4.9%       5.0%    -17.8
      MONEY SUPPLY, M2                 6/13 billions   $6,469.0   $6,484.9r      3.0
      INITIAL CLAIMS, UNEMPLOYMENT     6/25 thous.          310        316r    -10.7
      MORTGAGE APPLICATIONS, PURCHASE  6/25               477.4      479.4       9.6
      MORTGAGE APPLICATIONS, REFINANCE 6/25              2529.2     2575.0      82.4
      
      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                6/29 $/troy oz.             435.800   437.000     10.1
      STEEL SCRAP         6/29 #1 heavy, $/ton         120.83    120.83    -19.4
      COPPER              6/24 cents/lb.               172.9     168.1      38.3
      ALUMINUM            6/24 cents/lb.                84.3      83.1      -0.6
      COTTON              6/24 strict low middling     
                               1-1/16 in., cents/lb.   51.82     48.77      -5.4
      OIL                 6/29 $/bbl.                   57.36     57.90      55.2
      CRB FOODSTUFFS      6/28 1967=100                252.19    259.65     -7.7
      CRB RAW INDUSTRIALS 6/28 1967=100                331.36    333.99      8.6
      
      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                   6/29      2.3525       2.3851       3.0850
      BRITISH POUND                    6/29        1.81         1.82         1.82
      CANADIAN DOLLAR                  6/29        1.23         1.23         1.33
      EUROPEAN EURO                    6/29      1.2070       1.2129       1.2199
      JAPANESE YEN                     6/29      110.43       108.87       108.77
      KOREAN WON                       6/29      1028.9       1010.7       1155.5
      MEXICAN PESO                     6/29      10.742       10.763       11.487
      TRADE-WEIGHTED DOLLAR INDEX      6/29        91.2         91.0         94.2
      
      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                6/28                   3.17%      2.96%      1.13%
      COMMERCIAL PAPER             6/27  3-month          NA         3.30       1.43
      CERTIFICATES OF DEPOSIT      6/28  3-month          3.45       3.41       1.56
      FIXED MORTGAGE               6/24  30-year          5.78       5.81       6.37
      ADJUSTABLE MORTGAGE          6/24  one-year         4.67       4.58       4.30
      PRIME                        6/28                   6.00       6.00       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. no longer included. Historical data has been adjusted.
      3=Free market value  NA=Not available  r=revised  NM=Not meaningful
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