Online Extra: Production Index Components

PRODUCTION INDICATORS
      
                                                              LATEST          WEEK      YEARLY
                                                                WEEK           AGO       % CHG
      STEEL                9/22 thous. of net tons             2,101        2,088#         1.2
      AUTOS                9/22 units                         90,250       73,520#        -8.4
      TRUCKS               9/22 units                        162,825      141,340#        10.1
      ELECTRIC POWER       9/22 millions of kilowatt-hrs.     79,130       81,556#         3.4
      CRUDE-OIL REFINING   9/22 thous. of bbl./day            14,778       15,188#        -5.4
      COAL                 9/15 thous. of net tons            22,245#      22,122         -1.2
      LUMBER               9/15 millions of ft.                301.3#       230.3        -11.6
      RAIL FREIGHT         9/15 billions of ton-miles           35.5#        33.3         -0.8
      
      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                9/14  1992=100          140.6        140.8r         3.5
      STOCK PRICES                      9/21  S&P 500          1525.8       1484.3         16.0
      CORPORATE BOND YIELD, Aaa         9/21                     5.8%          5.7%         7.6
      MONEY SUPPLY, M2                  9/10  billions       $7,348.5     $7,365.8r         6.9
      INITIAL CLAIMS, UNEMPLOYMENT      9/22  thous.              298          313r        -5.7
      MORTGAGE APPLICATIONS, PURCHASE   9/22                    418.8        452.0         11.4
      MORTGAGE APPLICATIONS, REFINANCE  9/22                   2026.5       1962.0         20.8
      
      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                  9/26  $/troy oz.               734.750     725.150     23.7
      STEEL SCRAP           9/27  #1 heavy, $/ton           265.50      265.50     34.1
      COPPER                9/21  cents/lb.                  357.3       341.8      3.2
      ALUMINUM              9/21  cents/lb.                  110.9       111.5     -3.8
      COTTON                9/21  strict low middling 
                                  1-1/16 in., cents/lb.      61.98       58.94     21.3
      OIL                   9/26  $/bbl.                     80.50       82.18     27.4
      CRB FOODSTUFFS        9/25  1967=100                  326.14      325.58     22.1
      CRB RAW INDUSTRIALS   9/25  1967=100                  507.91      500.37     25.3
      
      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                    9/26        1.8440          1.8706          2.1891
      BRITISH POUND                     9/26          2.02            2.00            1.89
      CANADIAN DOLLAR                   9/26          1.00            1.02            1.11
      EUROPEAN EURO                     9/26        1.4128          1.3958          1.2701
      JAPANESE YEN                      9/26        115.55          116.08          117.49
      KOREAN WON                        9/26         920.9           925.7           943.6
      MEXICAN PESO                      9/26        10.920          10.991          11.040
      TRADE-WEIGHTED DOLLAR INDEX       9/26          83.8            84.4            88.9
      
      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               9/25              4.82%        4.92%        5.25%
      COMMERCIAL PAPER            9/25  3-month     4.80         4.95         NA
      CERTIFICATES OF DEPOSIT     9/25  3-month     5.18         5.50         5.32
      FIXED MORTGAGE              9/21  30-year     6.80         6.77         6.50
      ADJUSTABLE MORTGAGE         9/21  one-year    6.29         6.35         6.01
      PRIME                       9/25              7.75         7.75         8.25
      
      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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