Online Extra: Production Index Components

PRODUCTION INDICATORS
                                                     LATEST        WEEK     YEARLY
                                                       WEEK         AGO%       CHG
      
      STEEL 3/4 thous. of net tons                    2,098       2,074#       3.9
      AUTOS 3/4 units                                94,950      94,950#       0.9
      TRUCKS 3/4 units                              151,225     151,225#     -13.5
      ELECTRIC POWER 3/4 millions of kilowatt-hrs.   73,292      76,633#      -0.4
      CRUDE-OIL REFINING 3/4 thous. of bbl./day      14,184      14,638#      -4.7
      COAL 2/25 thous. of net tons                   21,802#     21,710       -0.9
      LUMBER 2/25 millions of ft.                     350.5#      368.7      -10.6
      RAIL FREIGHT 2/25 billions of ton-miles          32.2#       31.8       -3.3
      
      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 2/24 1992=100           137.2        137.4       1.7
      STOCK PRICES 3/3 S&P 500                  1287.2       1289.4       5.3
      CORPORATE BOND YIELD, Aaa 3/3                5.5%         5.3%      3.8
      MONEY SUPPLY, M2 2/20 billions          $6,784.0     $6,743.0r     5.0
      INITIAL CLAIMS, UNEMPLOYMENT 3/4 thous.      303          295r     -9.6
      MORTGAGE APPLICATIONS, PURCHASE 3/4        399.0        400.8     -11.7
      MORTGAGE APPLICATIONS, REFINANCE 3/4      1614.4       1573.5     -25.8
      
      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 3/8 $/troy oz.                  544.750   564.250      23.9
      STEEL SCRAP 3/8 #1 heavy, $/ton       226.00    226.00      15.7
      COPPER 3/3  cents/lb.                  228.1     229.9      48.7
      ALUMINUM 3/3  cents/lb.                113.7     112.4      19.1
      COTTON 3/3 strict low middling
       1-1/16 in.,  cents/lb.                54.75     56.06       6.9
      OIL 3/8 $/bbl.                         60.07     62.09      10.0
      CRB FOODSTUFFS 3/7 1967=100           240.88    241.94      -5.9
      CRB RAW INDUSTRIALS 3/7 1967=100      371.61    369.84      11.7
      
      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 3/8                2.1800          2.1155          2.7170
      BRITISH POUND 3/8                   1.74            1.75            1.93
      CANADIAN DOLLAR 3/8                 1.16            1.13            1.21
      EUROPEAN EURO 3/8                 1.1925          1.1923          1.3391
      JAPANESE YEN 3/8                  117.86          116.10          103.95
      KOREAN WON 3/8                     982.1           971.0          1001.0
      MEXICAN PESO 3/8                  10.716          10.475          11.012
      TRADE-WEIGHTED DOLLAR INDEX 3/8     91.3            90.3            87.6
      
      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 3/7                      4.51%   4.52%   2.49%
      COMMERCIAL PAPER 3/7 3-month             NA      NA      NA
      CERTIFICATES OF DEPOSIT 3/7 3-month    4.84    4.78    2.92
      FIXED MORTGAGE 3/3 30-year             6.39    6.40    5.92
      ADJUSTABLE MORTGAGE 3/3 one-year       5.56    5.52    4.45
      PRIME 3/7                              7.50    7.50    5.50
      
      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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