Online Extra: Production Index Components

PRODUCTION INDICATORS
      
                                                             WEEK       AGO   % CHG
      STEEL               11/4 thous. of net tons           1,906     1,899#   -2.8
      AUTOS               11/4 units                       83,600    98,500#   -6.8
      TRUCKS              11/4 units                      137,000   147,900#  -15.6
      ELECTRIC POWER      11/4 millions of kilowatt-hrs.   71,648    72,427#    2.8
      CRUDE-OIL REFINING  11/4 thous. of bbl./day          15,218    15,126#    6.4
      COAL               10/28 thous. of net tons          22,438#   22,463     5.5
      LUMBER             10/28 millions of ft.              323.0#    317.9   -11.6
      RAIL FREIGHT       10/28 billions of ton-miles         34.7#     34.8     1.2
      
      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               10/27 1992=100     136.1      136.3r     1.2
      STOCK PRICES                      11/3 S&P 500     1364.3     1377.3     11.8
      CORPORATE BOND YIELD, Aaa         11/3                5.5%       5.5%    -1.3
      MONEY SUPPLY, M2                 10/23 billions  $6,948.4   $6,930.3r     4.7
      INITIAL CLAIMS, UNEMPLOYMENT      11/4 thous.         308        328r    -2.5
      MORTGAGE APPLICATIONS, PURCHASE   11/4              402.2      375.6    -13.6
      MORTGAGE APPLICATIONS, REFINANCE  11/4             1897.9     1709.2      5.5
      
      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                11/8 $/troy oz.            623.200    614.100      34.7
      STEEL SCRAP         11/8 #1 heavy, $/ton        197.83     197.83      -4.9
      COPPER              11/3 cents/lb.              336.0      345.7       71.5
      ALUMINUM            11/3 cents/lb.              132.0      129.8       38.3
      COTTON              11/3 strict low middling      
                               1-1/16 in., cents/lb.   50.16      51.03      -5.5
      OIL                 11/8 $/bbl.                  59.73      58.68       0.7
      CRB FOODSTUFFS      11/7 1967=100               271.43     265.90       7.3
      CRB RAW INDUSTRIALS 11/7 1967=100               431.02     427.88      29.4
      
      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                   11/8        2.1437      2.1432      2.1755
      BRITISH POUND                    11/8          1.91        1.91        1.74
      CANADIAN DOLLAR                  11/8          1.13        1.13        1.19
      EUROPEAN EURO                    11/8        1.2757      1.2757      1.1765
      JAPANESE YEN                     11/8        117.84      117.04      117.52
      KOREAN WON                       11/8         935.1       939.4      1046.3
      MEXICAN PESO                     11/8        10.844      10.813      10.732
      TRADE-WEIGHTED DOLLAR INDEX      11/8          88.7        88.5        92.4
      
      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             11/7             5.22%        5.31%        3.95%
      COMMERCIAL PAPER          11/7  3-month    5.16         NA           NA
      CERTIFICATES OF DEPOSIT   11/7  3-month    5.33         5.33         4.26
      FIXED MORTGAGE            11/3  30-year    6.38         6.50         6.41
      ADJUSTABLE MORTGAGE       11/3  one-year   5.95         5.96         5.24
      PRIME                     11/7             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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