PRODUCTION INDICATORS

                                                    LATEST       WEEK   YEARLY
                                                      WEEK        AGO    % CHG                                                           
STEEL              10/30 thous. of net tons          2,031     2,019#     4.7
AUTOS              10/30 units                      84,572    84,675r#  -15.2
TRUCKS             10/30 units                     167,371   169,455r#    3.8
ELECTRIC POWER     10/30 millions of kilowatt-hrs.  71,422    70,854#     2.5
CRUDE-OIL REFINING 10/30 thous. of bbl./day         14,976    14,838#    -2.7
COAL               10/23 thous. of net tons         21,598#   21,670      2.2
LUMBER             10/23 millions of ft.             552.9#    565.4r     4.0
RAIL FREIGHT       10/23 billions of ton-miles        32.7#     33.1      1.9

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               10/22 1992=100      130.6      131.6      1.6
STOCK PRICES                     10/29 S&P 500      1130.2     1095.7      7.6
CORPORATE BOND YIELD, Aaa        10/29                 5.4%       5.4%    -4.9
MONEY SUPPLY, M2                 10/18 billions   $6,349.7   $6,327.0r     4.4
INITIAL CLAIMS, UNEMPLOYMENT     10/30 thous.          332        351r    -9.0
MORTGAGE APPLICATIONS, PURCHASE  10/30               496.5      440.9     22.8
MORTGAGE APPLICATIONS, REFINANCE 10/30              2303.9     2233.8     -0.7

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                 11/3 $/troy oz.               423.500   428.250      11.8
STEEL SCRAP          11/3 #1 heavy, $/ton           221.83    221.83      74.0
COPPER              10/29 cents/lb.                  134.6     135.8      40.2
ALUMINUM            10/29 cents/lb.                   88.7      89.8      23.2
COTTON              10/29 strict low middling        
                          1-1/16 in., cents/lb.      47.71     48.69     -39.4
OIL                  11/3 $/bbl.                     50.56     52.26      68.3
CRB FOODSTUFFS       11/2 1967=100                  257.05    258.52       1.9
CRB RAW INDUSTRIALS  11/2 1967=100                  315.22    313.14       6.0

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                 11/3     2.8285       2.8615      2.8680
BRITISH POUND                  11/3       1.85         1.83        1.67
CANADIAN DOLLAR                11/3       1.21         1.23        1.33
EUROPEAN EURO                  11/3     1.2821       1.2713      1.1439
JAPANESE YEN                   11/3     106.23       106.44      109.89
KOREAN WON                     11/3     1116.2       1128.4      1184.5
MEXICAN PESO                   11/3     11.438       11.518      10.978
TRADE-WEIGHTED DOLLAR INDEX    11/3       90.4         91.0        95.4

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                11/2                1.74%       1.72%       0.98%
COMMERCIAL PAPER             11/1  3-month       NA          NA          1.06
CERTIFICATES OF DEPOSIT      11/2  3-month       2.14        2.06        1.10
FIXED MORTGAGE              10/29  30-year       5.77        5.81        6.11
ADJUSTABLE MORTGAGE         10/29  one-year      4.01        4.04        3.96
PRIME                        11/2                4.75        4.75        4.00

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