Online Extra: Production Index Components

        
PRODUCTION INDICATORS
      
                                                         LATEST      WEEK   YEARLY
                                                           WEEK       AGO    % CHG
      STEEL              4/15 thous. of net tons          2,044     2,074#    -2.0
      AUTOS              4/15 units                      88,925    88,925#    -4.3
      TRUCKS             4/15 units                      41,075   141,075#   -13.3
      ELECTRIC POWER     4/15 millions of kilowatt-hrs.  67,559    68,696#     2.6
      CRUDE-OIL REFINING 4/15 thous. of bbl./day         14,423    14,160#    -7.0
      COAL                4/8 thous. of net tons         23,358#   23,568      7.3
      LUMBER              4/8 millions of ft.             343.1#    358.7     -9.5
      RAIL FREIGHT        4/8 billions of ton-miles        33.0#     34.0      1.2
      
      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                4/7 1992=100      137.3      138.0      1.8
      STOCK PRICES                     4/13 S&P 500      1289.1     1295.5     12.8
      CORPORATE BOND YIELD, Aaa        4/13                 5.9%       5.8%    11.1
      MONEY SUPPLY, M2                  4/3 billions   $6,798.1   $6,775.0r     4.9
      INITIAL CLAIMS, UNEMPLOYMENT     4/15 thous.          303        313     -3.8
      MORTGAGE APPLICATIONS, PURCHASE  4/15               407.4      417.7    -12.7
      MORTGAGE APPLICATIONS, REFINANCE 4/15              1526.1     1532.4    -18.4
      
      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                4/19 $/troy oz.             624.750   597.250     44.2
      STEEL SCRAP         4/19 #1 heavy, $/ton         234.83    228.00     11.5
      COPPER              4/13 cents/lb.               285.3     268.3      85.3
      ALUMINUM            4/13 cents/lb.               121.9     119.2      29.2
      COTTON              4/14 strict low middling      
                               1-1/16 in., cents/lb.    53.01     54.00      2.1
      OIL                 4/19 $/bbl.                   72.40     68.77     38.1
      CRB FOODSTUFFS      4/18 1967=100                242.24    240.71     -4.4
      CRB RAW INDUSTRIALS 4/18 1967=100                386.33    380.35     14.6
      
      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                4/19      2.1147      2.1364      2.5636
      BRITISH POUND                 4/19        1.79        1.75        1.92
      CANADIAN DOLLAR               4/19        1.14        1.15        1.24
      EUROPEAN EURO                 4/19      1.2382      1.2104      1.3087
      JAPANESE YEN                  4/19      117.27      118.57      106.88
      KOREAN WON                    4/19       945.6       960.4      1005.5
      MEXICAN PESO                  4/19      10.967      11.039      11.068
      TRADE-WEIGHTED DOLLAR INDEX   4/19        90.1        91.1        89.2
      
      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               4/18                  4.72%     4.74%     2.74%
      COMMERCIAL PAPER            4/17  3-month         NA        4.83      NA
      CERTIFICATES OF DEPOSIT     4/18  3-month         5.05      5.01      3.10
      FIXED MORTGAGE              4/14  30-year         6.62      6.57      6.04
      ADJUSTABLE MORTGAGE         4/14  one-year        5.81      5.75      4.57
      PRIME                       4/18                  7.75      7.75      5.75
      
      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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