Online Extra: Production Index Components

        
PRODUCTION INDICATORS
      
                                                          LATEST      WEEK   YEARLY
                                                            WEEK       AGO    % CHG
      STEEL              10/29 thous. of net tons          1,966     2,010#    -3.2
      AUTOS              10/29 units                      87,859    92,485r#    7.4
      TRUCKS             10/29 units                     160,969   165,260r#   -5.3
      ELECTRIC POWER     10/29 millions of kilowatt-hrs.  69,348    71,194#    -2.9
      CRUDE-OIL REFINING 10/29 thous. of bbl./day         13,776    13,501#    -8.0
      COAL               10/22 thous. of net tons         21,539#   20,557     -0.3
      LUMBER             10/22 millions of ft.             380.5#    381.5      8.6
      RAIL FREIGHT       10/22 billions of ton-miles        35.2#     33.4      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               10/21 1992=100     135.6      135.9r     3.9
      STOCK PRICES                     10/28 S&P 500     1198.4     1179.6      6.0
      CORPORATE BOND YIELD, Aaa        10/28                5.4%       5.3%     0.6
      MONEY SUPPLY, M2                 10/17 billions  $6,635.5   $6,610.8r     4.3
      INITIAL CLAIMS, UNEMPLOYMENT     10/29 thous.         323        331r    -3.6
      MORTGAGE APPLICATIONS, PURCHASE  10/29              437.6      466.4    -11.9
      MORTGAGE APPLICATIONS, REFINANCE 10/29             1862.8     1916.8    -19.1
      
      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                 11/2 $/troy oz.            460.800  473.200      8.8
      STEEL SCRAP          11/2 #1 heavy, $/ton        208.00   208.00     -6.2
      COPPER              10/28 cents/lb.              199.0    197.8      47.9
      ALUMINUM            10/28 cents/lb.               92.5     93.9       4.3
      COTTON              10/28 strict low middling     
                                1-1/16 in., cents/lb.   54.53    55.67     14.3
      OIL                  11/2 $/bbl.                  60.10    60.74     18.9
      CRB FOODSTUFFS       11/1 1967=100               255.61   247.64     -0.6
      CRB RAW INDUSTRIALS  11/1 1967=100               332.01   333.41      5.3
      
      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                   11/2      2.2385     2.2868    2.8285
      BRITISH POUND                    11/2        1.78       1.77      1.85
      CANADIAN DOLLAR                  11/2        1.18       1.17      1.21
      EUROPEAN EURO                    11/2      1.2073     1.2069    1.2821
      JAPANESE YEN                     11/2      116.88     115.86    106.23
      KOREAN WON                       11/2      1039.5     1042.8    1116.2
      MEXICAN PESO                     11/2      10.738     10.904    11.438
      TRADE-WEIGHTED DOLLAR INDEX      11/2        91.6       91.5      90.4
      
      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                11/1               3.99%      3.74%     1.74%
      COMMERCIAL PAPER            10/31  3-month      NA         4.04      NA
      CERTIFICATES OF DEPOSIT      11/1  3-month      4.23       4.18      2.14
      FIXED MORTGAGE              10/28  30-year      6.29       6.25      5.77
      ADJUSTABLE MORTGAGE         10/28  one-year     5.17       5.14      4.01
      PRIME                        11/1               7.00       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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