European Stars and Stripes (Newspaper) - February 6, 1993, Darmstadt, Hesse                                Page 16 the stars and stripes Money matters h saturday february 6,1993 today s rates following Are fixed rates at which Community banking and credit Union facilities will sell foreign currencies to . Personnel for personal use German Mark a a a a a a a a a a a a a a a a a a a a 1.62 British Pound.1.48 dutch Guilder. 1.82 greek drachma. 214.0318 note the rates above apply within the Host country. Figures Are express of in dollars to the British Pound other currencies to the Dollar. Following Are Interbank rates that fluctuate and should be regarded As the approximate value of the . Dollar to foreign currencies italian lira a a a a a a a a a a a a a a a a a a a a a a a 1,529.00 turkish lira a a a  9,016.10  Lah peseta a a a a a a a a a a a a a a a a see 117.78 portuguese escudo 149.85 austrian Schilling 11.675 saudi rial.3.7501 Bahrain Dinar 0.37675 Kuwait Dinar a a a a a a a a a a a a a a a a a a a a a a i 0.309 norwegian Krone 7.01 danish Krone a a a a a a  6.34 British Pound a a a a a a a a a a a a a a a a a a a a a a a 1s444 German Mark a a a a a a a a a a a a a a a a a a a a a i 1.6604 Swiss franc. 1.5310 French franc.5.6115 dutch Guilder .1.866 belgian franc. 34.16 Canadian Dollar 1.2615 note figures Are expressed in dollars to the British Pound other currencies to the Dollar. Gold quote $327.80 an ounce Silver quote $3.67 an ounce new York Exchange new York up York Stock Exchange Stock Chrysler corp general motors waste mgt inc Ford motor co Glaxo holdings Mattel inc Merck amp co inc Citicorp. Called inc Amsco inti inc Amer express co Bristol myer so Tel Tonos de my Rwjr Nabisco hid Kmart corp a the 15 most Active stocks in new composite trading on thursday. Sales last net chg. 7.593.800 7,178,700 5.217.100 4.899.500 4.850.500 4.483.800 4.001.100 3.836.500 3.728.600 2,781,000 2.687.100 2,576,400 2.561.800 a 2,458,300 2.409.600 39 i 37v< 37v. 50 via 1bvi 2 3 i 38 26v. 4% 23h 24 i 58 53 i 8 v. 24 i up v. Of Flatt Oliy. Up 2 i Oil i off 4vi. Off in up v. Up i Oil 6k unch Oil 1 up 1vi unch up i american Exchange new York up a the 10 most Active stocks in american Stock Exchange composite trading thursday. Stock sales list Nitchy. Wang labs inc b 1,879,000 1vi up 1-16 non communicate 822,800 7vi up i expo rate co la798,100 1 i up Tec Ogen inc 796,800 9 i us i Hill Haven corp 656,700 3 13-16 Oft 1-16 Harken Energy 600,000 Ivi a off i Cheyenne sorter 539,800 29 a it off i Chambers Dev a. 531,900 4 1316 Oft i  510,900 t a Oft i Hasbro inc 453,200. It of Ivi l Dow Jones new York up Dow Jones closing Range of averages thursday 30 industrials 20 transport 15 utilities 65 stocks High 3441.33 1591.43 235.29 1280.83 Low 3367.03 1544.69 231.41 1250 95 close change 3416 74 up 42 95 1579 54 up 37.06 234.16 up 2.12 1272 01 up 19 80 . Productivity jumps 4%, but gains May slow Job growth by the new York times Washington the productivity of american workers shot up by 4 percent in the fourth Quarter the labor department reported thursday in providing fresh evidence that corporate America is helping to generate a new surge in the . Economy without hiring Many new workers. The productivity numbers issued by the Bureau of abbr statistics were startling. The Rise was the highest increase for a single Quarter since the Early 1970s. And the 2.6 percent increase in productivity for All of 1992 was the Best improvement since 1972. The latest data along with Eye popping gains in retail sales in january and the enthusiasm shown by investors in the Stock Market suggest that a full fledged recovery might be under Way at last. But a huge question remains unanswered can the surge continue while companies Are getting All the production they need from their existing workers so far the stronger productivity a that is the greater efficiency in what workers produce in a Given period a it a has worked against new hiring. And at this Point after previous recessions new hiring already was Well under Way. The Adverse effect of a productivity increase on Job creation a can be bad in the Short term because of what it docs to consumer spending and to consumer Confidence a said Nancy Lazar a senior economist at the Isi group a consulting service. A but Long term it is positive because As profits Rise so do Stock prices and that should encourage hiring. Maybe that is already beginning.�?�. Thursdays report covered the seventh Quarter since the recession statistically ended in March 1991. Where the . Works total work Force 1980 = 104.449,817 1990 = 123.473.450 millions of americans percent change 1980 tol990 executive. Professional Quot. Technicians sales administrative support private household protective service other service farming precision production machine operators transportation handlers 1 40.9 35.1 4&3 >40.tv 12.2 10.1 35.2 21.7 2.4 3.5 �?�14.3 5.7 3.1 source census Bureau although the latest improvement was unusually Strong a with the service sector and the manufacturing sector both turning in Strong gains a the average quarterly Rise in productivity Over those seven quarters was roughly the same As the average for the first seven quarters of. Recovery that followed each of the seven major recessions since world War ii. But this time there is a difference while the output of goods and services Rose by More than 11 percent on average in the aftermath of the previous recessions the average quarterly growth in total output since March 1991 has been 4 percent. Total output of goods and services differs from productivity which is the amount workers produce per unit of time. The Strong growth in output after the aps amps earlier recessions left room for employment to Rise without dampening productivity. In fact total hours worked throughout the Economy except in farming and government employment Rose by 5.9 percent on average in the previous recoveries while in this recovery hours worked actually fell by six tenths of 1 percent. A this tells you to be very literal about it that the number of hours worked in the nonfarm sector was less in december than it was at the lowest Point in the recession a said Edwin r. Dean associate commissioner for productivity at the Bureau of labor statistics. Dean attributed the drop mostly to layoffs and attrition rather than fewer hours worked by the same number of people. Retail sales remain Strong after holidays a amp a plans to make diapers in Poland Cincinnati a Procter amp Gamble co. Said thursday it has bought 40 acres in Warsaw Poland for a Plant to manufacture pampers diapers. A amp a said it initially will invest about $60 million to buy and develop the site and to install manufacturing equipment. The company said it expects to spend More later on the anticipated growth of what will be a amp Gas first manufacturing Plant in Poland. The Plant will begin production in 1994, company spokesman Terry Loftus said. A amp a began operations in Poland in 1991 through a joint venture to Market imported a amp a products. By new Day Consumers who put the Joy Back into Christmas for . Retailers continued to spend in january defying predictions that they would tighten their purse strings and fueling Hope that the Economy indeed is getting healthier. The nations largest retailers reported on thursday that january results averaged a 5.5 percent increase in comparable store sales meaning sales at stores open at least a year. Wal Mart stores did particularly Well reporting a 10 percent increase in january sales and a stunning $55.5 billion in Overall sales for the fiscal year an Industry record. A this has been the Best retailing season at least since 1989,�?� said Jason Bram an economist with the new York based conference Board a business research organization. A we see life among the department stores. Even Sears did Well a said George Rosenbaum chief executive of Leo j. Shapiro and associates a Chicago based Market research company. The scars merchandise group a week after saying it would close More than 100 under performing stores and drop its legendary Catalon reported a hefty 8.3 percent increase in january a comparable store sales. A the continuing Strong sales trend of recent months is encouraging particularly in major appliances Home electronics and furniture a said Arthur c. Martinez chairman of Sears merchandise group. Most other big retailers also did Well. Sales at Federated department stores Parent of Abraham amp Straus Blooming Dales and Sterns Rose 3.9 percent in january. May department stores Parent of lord amp t Aylor reported a 6 percent increase. . Penney a results dipped 1 percent but the Chain said it was because a major furniture Sale in january 1992 Wasny to scheduled for this year until february. Kmart also lagged with sales up Only 0.3 percent. Analysts said heightened Competition among discounters was a Factor. Besides the stronger sales there was another departure from the past few years in january stores conducted far fewer clearance sales because they kept their inventories leaner and carried earlier assortments of full priced Spring merchandise. A this Bounce we Are seeing across the Board is occurring with less promotional activity and More Spring merchandise a Rosenbaum said. A the Only glitch is that there is nothing behind it to substantiate it. And i done to believe the american consumer has become a frivolous  Many retail analysts had been concerned that Consumers would Cut Back spending after Christmas to pay off credit card debt and to Brace for lower income tax refunds because of last years change in withholding practices. Analysts concurred that a continuation of robust consumer spending depends on improvements in employment and income. A there is no question consumer Confidence remains High a said David Wyss an economist with drip Megraw Hill. A but we have got to see some employment  Mexico vows to protect steelmakers against . Tariffs Mexico City up Mexico pledged thursday to protect its steel producers a with firmness and the Force of reason against recently imposed . Tariffs that severely limit mexican companies exporting steel to the United states. A the government reiterates its Compromise to defend the interests of the nations steel producers a said Pedro Noyola Mexico a vice minister of foreign Trade and investment. Alter a six Mont i investigation the United states last week slapped heavy duties on mexican steel exporters accusing them of dumping at unfairly Low prices. The tariffs effectively prevent mexican producers from exporting to the United states. Three mexican steel producers lodged protests against the tariffs some As High As 76.12 percent. The three Are Altos Hornos de Mexico . De c.v., hoj Alata and Lamina ., and Industrial Monterrey s. A. A Noyola however said that the Battle was temporary and that the problem will be resolved when the proposed North american free Trade agreement takes effect. The agreement still has to be passed by Legislatures in Mexico the United states and Canada the three participating nations. The mexican foreign Trade and Industrial promotion ministry is carrying out a similar investigation into alleged dumping by . Companies Noyola said. It