Online Extra: Production Index Components

PRODUCTION INDICATORS
      
                                                          LATEST      WEEK   YEARLY
                                                            WEEK       AGO    % CHG
      STEEL              10/28 thous. of net tons          1,899     1,910#    -3.4
      AUTOS              10/28 units                      98,500    98,500#     8.8
      TRUCKS             10/28 units                     147,900   147,900#    -8.9
      ELECTRIC POWER     10/28 millions of kilowatt-hrs.  72,427    71,658#     4.4
      CRUDE-OIL REFINING 10/28 thous. of bbl./day         15,126    14,946#     9.8
      COAL               10/21 thous. of net tons         22,463#   21,957      4.3
      LUMBER             10/21 millions of ft.             317.9#    315.4    -16.4
      RAIL FREIGHT       10/21 billions of ton-miles        34.8#     35.0      0.3
      
      Sources: American Iron & Steel Institute, Ward's Automotive Reports, Edison
      Electric Institute, American Petroleum Institute, Energy Dept., WWPA,
      Association of American Railroads
      
      
      LEADING INDICATORS
      
                                                         LATEST       WEEK    YEARLY
                                                            WEEK        AGO    % CHG
      ECRI LEADING INDEX               10/20 1992=100      136.4      136.4r     0.7
      STOCK PRICES                     10/27 S&P 500      1377.3     1368.6     14.9
      CORPORATE BOND YIELD, Aaa        10/27                 5.5%       5.6%     0.6
      MONEY SUPPLY, M2                 10/16 billions   $6,930.4   $6,933.9r     4.6
      INITIAL CLAIMS, UNEMPLOYMENT     10/28 thous.          327        309r     1.6
      MORTGAGE APPLICATIONS, PURCHASE  10/28               375.6      382.4    -14.2
      MORTGAGE APPLICATIONS, REFINANCE 10/28              1709.2     1790.4     -8.2
      
      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                 11/1 $/troy oz.            614.100    580.750      33.3
      STEEL SCRAP          11/1 #1 heavy, $/ton        197.83     197.83      -4.9
      COPPER              10/27 cents/lb.              345.7      354.8       73.7
      ALUMINUM            10/27 cents/lb.              129.8      127.5       40.3
      COTTON              10/27 strict low middling     
                                1-1/16 in., cents/lb.   51.03      49.43      -6.4
      OIL                  11/1 $/bbl.                  58.68      58.85      -2.4
      CRB FOODSTUFFS      10/31 1967=100               265.90     265.82       4.0
      CRB RAW INDUSTRIALS 10/31 1967=100               427.88     420.57      29.2
      
      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                    11/1       2.1432       2.1415       2.2385
      BRITISH POUND                     11/1         1.91         1.88         1.78
      CANADIAN DOLLAR                   11/1         1.13         1.12         1.18
      EUROPEAN EURO                     11/1       1.2757       1.2601       1.2073
      JAPANESE YEN                      11/1       117.04       119.13       116.88
      KOREAN WON                        11/1        939.4        955.9       1039.5
      MEXICAN PESO                      11/1       10.813       10.754       10.738
      TRADE-WEIGHTED DOLLAR INDEX       11/1         88.5         89.3         91.6
      
      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               10/31                  5.31%      5.24%     3.99%
      COMMERCIAL PAPER            10/31  3-month         NA         NA        NA
      CERTIFICATES OF DEPOSIT     10/31  3-month         5.33       5.33      4.23
      FIXED MORTGAGE              10/27  30-year         6.50       6.48      6.29
      ADJUSTABLE MORTGAGE         10/27  one-year        5.96       5.94      5.17
      PRIME                       10/31                  8.25       8.25      7.00
      
      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. NA=Not
      available  r=revised  NM=Not meaningful
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