PRODUCTION INDICATORS

                                                     LATEST      WEEK   YEARLY
                                                       WEEK       AGO    % CHG
STEEL              11/27 thous. of net tons           1,931     1,962#     1.1
AUTOS              11/27 units                       57,406    82,520r#    0.0
TRUCKS             11/27 units                      104,581   159,195r#   10.7
ELECTRIC POWER     11/27 millions of kilowatt-hrs.   67,661    69,425#    -3.2
CRUDE-OIL REFINING 11/27 thous. of bbl./day          15,693    15,411#     2.8
COAL               11/20 thous. of net tons          21,692#   21,551      2.4
LUMBER             11/20 millions of ft.              567.1#    543.1r     2.3
RAIL FREIGHT       11/20 billions of ton-miles         33.2#     32.5      2.8

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               11/19 1992=100      132.7      132.6r     0.9
STOCK PRICES                     11/26 S&P 500      1182.7     1170.3     11.8
CORPORATE BOND YIELD, Aaa        11/26                 5.5%       5.5%    -2.5
MONEY SUPPLY, M2                 11/15 billions   $6,370.8   $6,366.9      4.9
INITIAL CLAIMS, UNEMPLOYMENT     11/27 thous.          349        324r    -6.2
MORTGAGE APPLICATIONS, PURCHASE  11/27               460.3      463.3      4.2
MORTGAGE APPLICATIONS, REFINANCE 11/27              1912.3     2179.3     -8.9

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                 12/1 $/troy oz.             452.850   448.600      12.7
STEEL SCRAP          12/1 #1 heavy, $/ton         249.33    249.33      79.2
COPPER              11/26 cents/lb.               152.4     150.6       62.0
ALUMINUM            11/26 cents/lb.                89.7      89.2       23.5
COTTON              11/26 strict low middling               
                          1-1/16 in., cents/lb.    46.24     47.07     -27.9
OIL                  12/1 $/bbl.                   45.21     48.92      46.5
CRB FOODSTUFFS      11/30 1967=100                274.90    270.97       5.8
CRB RAW INDUSTRIALS 11/30 1967=100                324.30    323.94      10.0

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                12/1        2.7100          2.7545        2.9338
BRITISH POUND                 12/1          1.93            1.88          1.73
CANADIAN DOLLAR               12/1          1.18            1.18          1.30
EUROPEAN EURO                 12/1        1.3346          1.3187        1.2111
JAPANESE YEN                  12/1        102.58          102.80        108.29
KOREAN WON                    12/1        1046.1          1066.7        1195.5
MEXICAN PESO                  12/1        11.129          11.285        11.261
TRADE-WEIGHTED DOLLAR INDEX   12/1          87.8            88.3          93.7

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             11/30                2.02%        2.00%        0.97%
COMMERCIAL PAPER          11/29  3-month       NA           2.23         1.06
CERTIFICATES OF DEPOSIT   11/30  3-month       2.38         2.34         1.11
FIXED MORTGAGE            11/26  30-year       5.83         0.00         6.02
ADJUSTABLE MORTGAGE       11/26  one-year      4.25         0.00         3.96
PRIME                     11/30                5.00         5.00         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