Online Extra: Production Index Components

PRODUCTION INDICATORS
                                                    LATEST        WEEK    YEARLY
                                                      WEEK         AGO%      CHG
      
      STEEL 6/17 thous. of net tons                  2,108       2,076#     17.1
      AUTOS 6/17 units                              81,320      81,320#    -10.8
      TRUCKS 6/17 units                            130,900     130,900#    -19.8
      ELECTRIC POWER 6/17 millions of kilowatt-hrs. 79,886      78,485#     -3.5
      CRUDE-OIL REFINING 6/17 thous. of bbl./day    15,993      15,877#      0.6
      COAL 6/10 thous. of net tons                  22,598#     22,679       6.8
      LUMBER 6/10 millions of ft.                    348.9#      300.8     -10.3
      RAIL FREIGHT 6/10 billions of ton-miles         34.4#       31.8       6.5
      
      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 6/9 1992=100            137.5       137.2r      2.8
      STOCK PRICES 6/16 S&P 500                 1251.5      1252.3       2.8
      CORPORATE BOND YIELD, Aaa 6/16               5.9%        5.8%     17.1
      MONEY SUPPLY, M2 6/5 billions           $6,806.8     6,809.1r     4.8
      INITIAL CLAIMS, UNEMPLOYMENT 6/17 thous.     308         297r     -4.3
      MORTGAGE APPLICATIONS, PURCHASE 6/17       414.8       414.6     -13.5
      MORTGAGE APPLICATIONS, REFINANCE 6/17     1466.1      1499.4     -43.1
      
      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    EARLY
                                              WEEK       AGO%     CHG
      
      GOLD 6/21 $/troy oz.                 574.600   567.750     31.5
      STEEL SCRAP 6/21 #1 heavy, $/ton      283.33    283.33    134.5
      COPPER 6/16  cents/lb.                 331.3     361.4     97.1
      ALUMINUM 6/16  cents/lb.               117.2     120.2     41.1
      COTTON 6/16 strict low
       middling 1-1/16 in.,  cents/lb.       52.41     52.36      7.5
      OIL 6/21 $/bbl.                        70.08     69.04     21.0
      CRB FOODSTUFFS 6/20 1967=100          256.03    251.18     -1.4
      CRB RAW INDUSTRIALS 6/20 1967=100     399.34    396.16     19.7
      
      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 6/21               2.2267   2.2810   2.3851
      BRITISH POUND 6/21                  1.85     1.84     1.82
      CANADIAN DOLLAR 6/21                1.11     1.11     1.23
      EUROPEAN EURO 6/21                1.2660   1.2596   1.2129
      JAPANESE YEN 6/21                 114.90   115.06   108.87
      KOREAN WON 6/21                    955.8    962.1   1010.7
      MEXICAN PESO 6/21                 11.390   11.449   10.763
      TRADE-WEIGHTED DOLLAR INDEX 6/21    89.1     89.3     91.0
      
      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 6/20                       4.92%    5.00%   2.96%
      COMMERCIAL PAPER 6/19 3-month              NA       NA    3.30
      CERTIFICATES OF DEPOSIT 6/20 3-month     5.40     5.29    3.41
      FIXED MORTGAGE 6/16 30-year              6.76     6.75    5.81
      ADJUSTABLE MORTGAGE 6/16 one-year        6.32     5.95    4.58
      PRIME 6/20                               8.00     8.00    6.00
      
      Sources: Federal Reserve, HSH Associates, Bloomberg Financial Markets
      
      # Raw data in the production indicators are seasonally adjusted in computing
      the BW index; 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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