Projections
                                   1995    1996    1997   1998

Real GDP                            2.0     2.4     3.0    2.2
(% change from previous period)

Inflation                           2.8     2.9     2.9    3.0
(Consumer prices-percent)

Unemployment                        5.6     5.4     5.5    5.5
(percent of labor force)

Current Account Balances           -2.0    -2.2    -2.3   -2.4
(percent of GDP)

Fiscal balance                     -2.0    -1.4    -1.5   -1.3
(percent of nominal GDP)

Short-term interest rates           5.5     5.0     5.3    5.3
(percent)

Long-term interest rates            6.6     6.5     6.5    6.4
(percent)

(Sources: International Monetary Fund, April 23, 1997. Interest rate data from the Organization for Economic Cooperation and Development, December 1996)

LATEST FIGURES

                                              % change
                        period              from previous

                                         period           year
Gross Domestic Product  Q4 96              1.0             3.2
Leading Indicator       Jan. 97            0.3             5.0
Consumer Price Index    Jan. 97            0.3             3.0

                                         current      same period
                                         period         last year
Current Balance         Q3 96            -47.96          -37.69
Unemployment Rate       Jan. 97            5.4             5.7
Interest Rate           Feb. 97            5.37            5.15