Online Extra: Production Index Components

PRODUCTION INDICATORS
      
                                                     LATEST        WEEK   YEARLY
                                                       WEEK        AGO%     CHG
      
      STEEL 8/4 thous. of net tons                    2,058      2,078#     0.0
      AUTOS 8/4 units                                73,520     63,500#    -8.4
      TRUCKS 8/4 units                              141,340    103,300#    10.2
      ELECTRIC POWER 8/4 millions of kilowatt-hrs.   93,540     86,636#    -5.1
      CRUDE-OIL REFINING 8/4 thous. of bbl./day      15,382     15,806#    -1.1
      COAL 7/28 thous. of net tons                   22,310#    21,325     -1.8
      LUMBER 7/28 millions of ft.                     312.8#     314.3    -13.7
      RAIL FREIGHT 7/28 billions of ton-miles          35.1#      33.4      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 7/27 1992=100           142.5     143.6r       5.5
      STOCK PRICES 8/3 S&P 500                  1433.1     1459.0      12.0
      CORPORATE BOND YIELD, Aaa 8/3               5.7%       5.6%      -0.7
      MONEY SUPPLY, M2 7/23 billions          $7,272.7  $7,264.6r       6.3
      INITIAL CLAIMS, UNEMPLOYMENT 8/4 thous.      316       309r      -0.9
      MORTGAGE APPLICATIONS, PURCHASE 8/4        447.4      416.6      15.0
      MORTGAGE APPLICATIONS, REFINANCE 8/4      1881.1     1724.1      23.9
      
      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 8/8 $/troy oz.                       675.500    665.750     4.1
      STEEL SCRAP 8/9 #1 heavy, $/ton            240.83     240.83    23.3
      COPPER 8/3  cents/lb.                       363.8      365.6    -0.9
      ALUMINUM 8/3  cents/lb.                     124.0      126.5     4.3
      COTTON 8/3 strict low middling 1-1/16 in.   59.73      58.43    11.5
      OIL 8/8 $/bbl.                              72.30      76.59    -5.5
      CRB FOODSTUFFS 8/7 1967=100                327.04     322.68    23.6
      CRB RAW INDUSTRIALS 8/7 1967=100           505.09     504.36    24.3
      
      Sources: London Wednesday final setting, Metal Bulletin, Platt's Metals Week,
      Memphis market, NYMEX, Commodity Research Bureau
      
      FOREIGN EXCHANGE
                                       LATEST      WEEK      YEAR
                                         WEEK       AGO       AGO
      
      BRAZILIAN REAL 8/8               1.8858    1.8920    2.1663
      BRITISH POUND 8/8                  2.04      2.03      1.90
      CANADIAN DOLLAR 8/8                1.05      1.06      1.12
      EUROPEAN EURO 8/8                1.3798    1.3668    1.2862
      JAPANESE YEN 8/8                 119.72    118.96    115.36
      KOREAN WON 8/8                    924.2     925.2     959.5
      MEXICAN PESO 8/8                 10.925    10.945    10.850
      TRADE-WEIGHTED DOLLAR INDEX 8/8    85.5      85.7      88.2
      
      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 8/7                     5.26%           5.28%           5.26%
      COMMERCIAL PAPER 8/7 3-month            NA            5.23              NA
      CERTIFICATES OF DEPOSIT 8/7 3-month   5.36            5.33            5.41
      FIXED MORTGAGE 8/3 30-year            6.88            6.87            6.71
      ADJUSTABLE MORTGAGE 8/3 one-year      6.10            6.11            6.06
      PRIME 8/7                             8.25            8.25            8.25
      
      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.
      NA=Not available r=revised NM=Not meaningful
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