Online Extra: Production Index Components

PRODUCTION INDICATORS
                                                     LATEST       WEEK    YEARLY
                                                       WEEK        AGO%      CHG
      
      STEEL 8/25 thous. of net tons                   2,114      2,078#      2.0
      AUTOS 8/25 units                               73,520     73,520#    -13.6
      TRUCKS 8/25 units                             141,340    141,340#      6.9
      ELECTRIC POWER 8/25 millions of kilowatt-hrs.  93,569     94,455#      5.1
      CRUDE-OIL REFINING 8/25 thous. of bbl./day     15,197     15,412#     -5.3
      COAL 8/18 thous. of net tons                   22,572#    22,238      -0.6
      LUMBER 8/18 millions of ft.                   313.753#     306.1#     -9.7
      RAIL FREIGHT 8/18 billions of ton-miles          35.3#      34.5      -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 8/17 1992=100           139.8      141.7r      3.3
      STOCK PRICES 8/24 S&P 500                 1479.4     1445.9      14.2
      CORPORATE BOND YIELD, Aaa 8/24               5.8%       5.9%      3.8
      MONEY SUPPLY, M2 8/13 billions           $7,288.9   $7,282.4      6.5
      INITIAL CLAIMS, UNEMPLOYMENT 8/25 thous.     334        325r      5.0
      MORTGAGE APPLICATIONS, PURCHASE 8/25       424.0      441.5      12.8
      MORTGAGE APPLICATIONS, REFINANCE 8/25     1729.6     1806.3       7.5
      
      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 8/29 $/troy oz.               664.250    659.500       7.5
      STEEL SCRAP 8/30 #1 heavy, $/ton    254.17     254.17      30.1
      COPPER 8/24  cents/lb.               330.1      336.9      -6.6
      ALUMINUM 8/24  cents/lb.             114.1      115.3      -2.3
      COTTON 8/24 strict low
       middling 1-1/16 in.,  cents/lb.     54.39      54.53       3.6
      OIL 8/29 $/bbl.                      73.71      69.46       5.1
      CRB FOODSTUFFS 8/28 1967=100        316.16     315.73      17.8
      CRB RAW INDUSTRIALS 8/28 1967=100   490.39     487.28      22.0
      
      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 8/29                1.9631   1.9934   2.1375
      BRITISH POUND 8/29                   2.02     1.99     1.90
      CANADIAN DOLLAR 8/29                 1.06     1.06     1.11
      EUROPEAN EURO 8/29                 1.3677   1.3543   1.2833
      JAPANESE YEN 8/29                  116.17   115.33   117.16
      KOREAN WON 8/29                     939.6    942.3    961.5
      MEXICAN PESO 8/29                  11.075   11.051   10.886
      TRADE-WEIGHTED DOLLAR INDEX 8/29     85.6     85.9     88.5
      
      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 8/28                      5.30%   4.89%   5.23%
      COMMERCIAL PAPER 8/28 3-month           5.23    5.24    5.21
      CERTIFICATES OF DEPOSIT 8/28 3-month    5.53    5.48    5.36
      FIXED MORTGAGE 8/24 30-year             6.99    7.02    6.56
      ADJUSTABLE MORTGAGE 8/24 one-year       6.23    6.26    6.01
      PRIME 8/28                              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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