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PRODUCTION INDICATORS



                                                     LATEST      WEEK   YEARLY
                                                       WEEK       AGO    % CHG
STEEL              10/4 thous. of net tons            1,792     1,756#   -13.0
AUTOS              10/4 units                        96,341   102,338r#    0.0
TRUCKS             10/4 units                       165,225   166,429r#    4.2
ELECTRIC POWER     10/4 millions of kilowatt-hrs.    67,884    73,813#    -6.5
CRUDE-OIL REFINING 10/4 thous. of bbl./day           15,044    15,122#     8.9
COAL               9/27 thous. of net tons           21,173#   21,461     -2.9
LUMBER             9/27 millions of ft.               535.6#    536.1     -2.2
RAIL FREIGHT       9/27 billions of ton-miles          30.2#     30.3      1.0



Sources: American Iron & Steel Institute, Ward's Automotive Reports, Edison
Electric Institute, American Petroleum Institute, Energy Dept., WWPA, SFPA,
Association of American Railroads






LEADING INDICATORS



                                                   LATEST        WEEK   YEARLY
                                                     WEEK         AGO    % CHG
ECRI LEADING INDEX               9/26 1992=100      128.3       128.7r    10.1
STOCK PRICES                     10/2 S&P 500      1029.9       996.9     28.6
CORPORATE BOND YIELD, Aaa        10/2                 5.6%        5.5%    -8.1
MONEY SUPPLY, M2                 9/22 billions   $6,102.9    $6,114.0r     6.8
INITIAL CLAIMS, UNEMPLOYMENT     10/3 thous.          382         405r    -1.8
MORTGAGE APPLICATIONS, PURCHASE  10/3               441.1       398.0r    25.1
MORTGAGE APPLICATIONS, REFINANCE 10/3              3005.5      2506.8    -56.6



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                10/8 $/troy oz.             375.250   383.500     17.5
STEEL SCRAP         10/7 #1 heavy, $/ton         127.50    123.17     29.7
COPPER              10/3 cents/lb.                86.5      86.5      22.8
ALUMINUM            10/3 cents/lb.                67.8      68.3       8.4
COTTON              10/3 strict low middling
                         1-1/16 in., cents/lb.    65.97     62.95     61.2
OIL                 10/8 $/bbl.                   29.71     29.24      1.2
CRB FOODSTUFFS      10/7 1967=100                284.05    250.82     22.9
CRB RAW INDUSTRIALS 10/7 1967=100                249.76    280.62      5.0



Sources: London Wednesday final setting, Iron Age Scrap Price Bulletin, Metals
Week, Memphis market, NYMEX, Commodity Research Bureau






FOREIGN EXCHANGE



                                              LATEST         WEEK         YEAR
                                                WEEK          AGO          AGO
BRAZILIAN REAL                    10/8        2.8450       2.8950       3.9140
BRITISH POUND                     10/8          1.66         1.67         1.56
CANADIAN DOLLAR                   10/8          1.33         1.35         1.60
EUROPEAN EURO                     10/8        1.1812       1.1718       0.9902
JAPANESE YEN                      10/8        109.60       110.67       123.28
KOREAN WON                        10/8        1149.8       1151.8       1243.5
MEXICAN PESO                      10/8        11.300       11.028       10.225
TRADE-WEIGHTED DOLLAR INDEX       10/8          94.9         95.1        123.3



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                 10/7                 0.98%      1.17%      1.72%
COMMERCIAL PAPER              10/7  3-month        1.06       1.05       1.68
CERTIFICATES OF DEPOSIT       10/7  3-month        1.10       1.12       1.72
FIXED MORTGAGE                10/3  30-year        5.97       6.15       6.18
ADJUSTABLE MORTGAGE           10/3  one-year       3.98       4.06       4.54
PRIME                         10/7                 4.00       4.00       4.75



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.  2=Southern
Forest Products Assn.  3=Free market value  NA=Not available  r=revised
NM=Not meaningful