PRODUCTION INDICATORS

                                                     LATEST      WEEK   YEARLY
                                                       WEEK       AGO    % CHG
STEEL               11/6 thous. of net tons           1,962     2,031#     6.7
AUTOS               11/6 units                       79,570    81,777r#  -18.8
TRUCKS              11/6 units                      147,142   170,028r#  -15.0
ELECTRIC POWER      11/6 millions of kilowatt-hrs.   69,395    71,422#    -0.7
CRUDE-OIL REFINING  11/6 thous. of bbl./day          15,317    14,976#     1.6
COAL               10/30 thous. of net tons          21,484#   21,598      2.7
LUMBER             10/30 millions of ft.              571.4#    553.3r     6.7
RAIL FREIGHT       10/30 billions of ton-miles         33.1#     32.7      5.4

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               10/29 1992=100      132.0       130.4r    1.5
STOCK PRICES                      11/5 S&P 500      1166.2      1130.2    10.7
CORPORATE BOND YIELD, Aaa         11/5                 5.6%        5.4%   -4.0
MONEY SUPPLY, M2                 10/25 billions   $6,354.6    $6,349.7     4.5
INITIAL CLAIMS, UNEMPLOYMENT      11/6 thous.          333         331r  -10.5
MORTGAGE APPLICATIONS, PURCHASE   11/6               483.0       496.5    28.7
MORTGAGE APPLICATIONS, REFINANCE  11/6              2148.7      2303.9     3.1

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                11/10 $/troy oz.             433.400   423.500     11.2
STEEL SCRAP         11/10 #1 heavy, $/ton         249.33    221.83     79.2
COPPER               11/5 cents/lb.               139.8     134.6      41.7
ALUMINUM             11/5 cents/lb.                91.2      88.7      26.2
COTTON               11/5 strict low middling
                          1-1/16 in., cents/lb.    46.24     47.71    -37.9
OIL                 11/10 $/bbl.                   48.62     50.56     56.8
CRB FOODSTUFFS       11/9 1967=100                268.11    257.05      4.0
CRB RAW INDUSTRIALS  11/9 1967=100                319.55    315.22      7.1

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


FOREIGN EXCHANGE

                                           LATEST         WEEK         YEAR
                                             WEEK          AGO          AGO
BRAZILIAN REAL                 11/10       2.8252       2.8285       2.9035
BRITISH POUND                  11/10         1.85         1.85         1.67
CANADIAN DOLLAR                11/10         1.19         1.21         1.30
EUROPEAN EURO                  11/10       1.2889       1.2821       1.1633
JAPANESE YEN                   11/10       107.13       106.23       108.86
KOREAN WON                     11/10       1110.4       1116.2       1174.4
MEXICAN PESO                   11/10       11.424       11.438       11.122
TRADE-WEIGHTED DOLLAR INDEX    11/10         90.1         90.4         94.4

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             11/9                1.79%        1.74%        0.99%
COMMERCIAL PAPER          11/8  3-month       NA           NA           1.03
CERTIFICATES OF DEPOSIT   11/9  3-month       2.23         2.14         2.12
FIXED MORTGAGE            11/5  30-year       5.80         5.77         6.14
ADJUSTABLE MORTGAGE       11/5  one-year      4.09         4.01         3.98
PRIME                     11/9                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