Online Extra: Production Index Components

        
PRODUCTION INDICATORS
      
                                                         LATEST      WEEK    YEARLY
                                                           WEEK       AGO     % CHG
      STEEL              9/24 thous. of net tons          2,016     2,005#     -0.8
      AUTOS              9/24 units                      95,115    96,387r#     3.8
      TRUCKS             9/24 units                     175,341   172,717r#    11.8
      ELECTRIC POWER     9/24 millions of kilowatt-hrs.  82,918    83,365#      4.0
      CRUDE-OIL REFINING 9/24 thous. of bbl./day         14,396    15,001#      2.1
      COAL               9/17 thous. of net tons         21,484#   21,601      -0.2
      LUMBER             9/17 millions of ft.             390.3#    332.8       2.4
      RAIL FREIGHT       9/17 billions of ton-miles        34.6#     32.3       4.2
      
      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               9/16 1992=100      134.3      134.7r     2.4
      STOCK PRICES                     9/23 S&P 500      1215.3     1237.9      9.5
      CORPORATE BOND YIELD, Aaa        9/23                 5.2%       5.2%    -3.2
      MONEY SUPPLY, M2                 9/12 billions   $6,557.3   $6,564.3r     3.7
      INITIAL CLAIMS, UNEMPLOYMENT     9/24 thous.          356        435r     0.0
      MORTGAGE APPLICATIONS, PURCHASE  9/24               483.1      500.3      3.0
      MORTGAGE APPLICATIONS, REFINANCE 9/24              2106.6     2353.7     -4.7
      
      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                9/28 $/troy oz.            464.000   469.100      12.4
      STEEL SCRAP         9/28 #1 heavy, $/ton        239.50    239.50       1.9
      COPPER              9/23 cents/lb.              183.1     174.3       30.2
      ALUMINUM            9/23 cents/lb.               86.7      86.4       -1.2
      COTTON              9/23 strict low middling     
                               1-1/16 in., cents/lb.   51.98     50.52       2.1
      OIL                 9/28 $/bbl.                  66.75     66.58      35.1
      CRB FOODSTUFFS      9/27 1967=100               252.56    251.15      -5.2
      CRB RAW INDUSTRIALS 9/27 1967=100               330.60    327.37       3.8
      
      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                 9/28        2.2272       2.2750       2.8505
      BRITISH POUND                  9/28          1.77         1.81         1.80
      CANADIAN DOLLAR                9/28          1.17         1.17         1.27
      EUROPEAN EURO                  9/28        1.2036       1.2214       1.2333
      JAPANESE YEN                   9/28        113.11       111.29       110.89
      KOREAN WON                     9/28        1037.6       1028.2       1153.2
      MEXICAN PESO                   9/28        10.852       10.810       11.419
      TRADE-WEIGHTED DOLLAR INDEX    9/28          91.2         90.3         93.2
      
      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              9/27                3.73%       3.67%       1.72%
      COMMERCIAL PAPER           9/26  3-month       3.84        NA          1.82
      CERTIFICATES OF DEPOSIT    9/27  3-month       3.97        3.88        1.93
      FIXED MORTGAGE             9/23  30-year       5.97        5.91        5.93
      ADJUSTABLE MORTGAGE        9/23  one-year      4.88        4.85        4.10
      PRIME                      9/27                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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