ITR 
United States exports to Taiwan (22 million people) in the 
1990's were greater than United States exports to China in 
that decade 
/ 
ITR 
US Industrial Production to Japan Industrial Production 
12/12 Rates-of-Change 
130 
		130 	
		125 	
		120 	
		115 	
		110 	
		105 	
		100 	
		95 	
		90 	
		85 	
2000 	2005 	
shapeType75fBehindDocument1pWrapPolygonVertices8;8;(21497,0);(901,0);(901,13698);(0,13698);(0,14481);(901,14481);(901,21496);(21497,21496)posrelh0posrelv0pib
125 
120 
115 
110 
105 
95 
90 
85 
1960 1965 1970 1975 1980 1985 1990 1995 
lsource: ITR's EcoTrendsl 
66 
67 

/ 
lTR 
Japan to Korea Industrial Production Indexes 
12i12 Rates-of-Change 
132 
shapeType75fBehindDocument1pWrapPolygonVertices8;14;(21437,0);(0,0);(0,18075);(8858,18075);(8858,20639);(183,20639);(183,21498);(21188,21498);(21188,18075);(21437,18075);(21437,2074);(21498,2074);(21498,1221);(21437,1221)posrelh0posrelv0pib
-KorealP 
'90 '91 '92 '93 '94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 
ITR 				
124 				
120 				
116 				
112 				
108 				
104 				
100 				
96 				
92 				
	'97 		'98 	
China Industrial Production 

- 1/12R-O-C 
'99 
'00 
'01 
'02 
'03 
Isource:ITR's EcoTrendsl 
68 
132 
69 

r
ITR 
India Industrial Production 
1112 Rate-of-Change 

1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 
/ 
			71 	
ITR 	US to South America Industrial Production 			
	12/12 Rates-of-Change 			
112 			112 	
109· 			. 109 	
106 			106 	
103 			103 	
				
100 			. 100 	
				
97 			97 	
94 			94 	
	- South America 			
91 	-u.S. 		91 	
88 	----,----r--------,-- 		88 	

'92 	'93 	'94 	'95 	'96 	'97 	'98 	'99 	'00 	'01 	'02 	'03 	'04 
Isource: ITR's EcoTrendsl 
70 

I 
ITR 
US to Canada Industrial Production Index 
12/12 Rates-of-Change 
115 
shapeType75fBehindDocument1pWrapPolygonVertices8;14;(20624,0);(872,0);(872,13111);(0,13111);(0,13818);(872,13818);(872,21497);(9873,21497);(9873,17719);(20624,17719);(20624,13818);(21497,13818);(21497,13111);(20624,13111)posrelh0posrelv0pib
112 
109 
106 
1'03 
97 
-Canada 
94 
-u.s. 
91 	91 
'80 '82 '84 '86 '88 '90 '92 '94 '96 '98 '00 '02 '04 
Isource: ITR's EcoTrendsl 
ITR 
US Industrial Production to Mexico Industrial Production 
12112 Rates-of-Change 
Index 
108 
Mexico 
shapeType75fBehindDocument1pWrapPolygonVertices8;6;(21498,0);(0,0);(0,18797);(308,18797);(308,21496);(21498,21496)posrelh0posrelv0pib
'90 '91 '92 '93 '94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 
Isource: ITR's EcoTrendsl 
72 
115 
112 
109 
106 
103 
97 
94 
73 

112 
\ 

ITR 
Inflation - US and the Northeast 

1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 
-u.S. 
-Northeast 
/ 
ITR 
Consumer Price Index to Crude Oil Futures Prices 
12/12 Rates-of-Change 
shapeType75fBehindDocument1pWrapPolygonVertices8;8;(3642,0);(0,0);(0,21496);(21498,21496);(21498,0);(17668,0);(17668,1268);(3642,1268)posrelh0posrelv0pib
'86 
'88 
'90 
'92 
'94 
'96 
'98 
'00 
'02 
'04 
Isource: ITR's EcoTrendsl 
74 
75 

			76 	
ITR 	Copper Future Prices 			
	Cents per POUJld 			
R-O-C 			MMA 	
200 			200 	
150 			180 	
		109.7 		
		106.2 		
100 			160 	
50 			140 	
shapeType75fBehindDocument1pWrapPolygonVertices8;8;(18904,0);(0,0);(0,21495);(21498,21495);(21498,6986);(244,6986);(244,2500);(18904,2500)posrelh0posrelv0pib
'90 '91 '92 '93 '94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 
/ 

ITR US Total Industrial Production to US Gov't Long-Term Bond Yields 
Annual Averages 
Index 
135 
Bonds 
15 
115 

95 
75 
55 
35 
15+'~"~",-",-".-".-""~"-."-,,,~,,~,,,-,,.-,,.-,,+3 
1960 
1975 
1965 
1970 
1980 
1985 
1990 
1995 
2000 
2005 
Isource: ITR's EcoTrendsl 

77 

13 
11 
9 
7 
5 

I 
I 
I 
I 
I 
I 
I 
I 
I 
I 
I 
I 
I 
I 
I 
I 
I 
I 
I 

ITR 
"How can we remember our ignorance, which our growth 
requires, when we are using o,ur knowledge all the time?" 
-Thoreau 
/ 

78 

Services provided by The Institute for Trend Research: 
The Institute for Trend Research has been serving the needs of American and International 
companies since 1948. ITR's mission is to provide accurate, objective analysis of entire 
economies and specific industrial markets to help your company make timely and effective 
business decisions. The following is a brief description of the services the Institute for Trend 
Research provides: 
EcoTrends: ITR publishes EcoTrends on a monthly basis. Companies use EcoTrends as a tool 
for in-house planning and forecasting efforts. It IS also used in conjunction with our Consulting 
Services (see below). The Executive Summary, Technical Summary, Industrial Production 
Forecast, Interest Rate Forecast, and the analysis of over 40 economic indicators are essential to 
companies who need to understand their economic environment and for the people responsible 
for planning for future trends. An annual subscription to EcoTrends is $795. 
Consulting Services: ITR serves as a full-function economic consulting firm to many of 
America's leading businesses. In this capacity, ITR analyzes the macroeconomic condition of the 
industrialized nations of the world, specific markets, and specific company data. We have 
considerablerxperience in the oil/gas, chemical and wood/pulp industries. This analysis results 
in a qualitative and quantitative forecast ofthe client's business for the next one to five years. 
Armed with this information, our clients are able to effectively plan and control capital 
expenditures, inventories, human resources, and production capabilities. The cost of this service 
varies considerably with the requirements of each particular engagement; however, this level of 
service averages $18,000 for an annual retainer. 
Speaking Engagements: ITR is available for one to two hour talks on economic trends (U.S. 
and/or abroad) and our projection ofthose trends as they relate to the group we are addressing. 
Over the years we have provided these very informative (as well as entertaining) talks at industry 
association meetings, within specific companies and for other specific organizations both in 
North America and abroad. Please call for the current honorarium for Speaking Engagements. 

EcoTrendsprovides a valuable means of staying on top of the economy and specific 
markets through the use of ITR's projections affecting your business and personal 
finances. Each issue of your 12-month subscription will be e-mailed (or mailed) 
within the first few days of every month. Initiate your subscription to EcoTrendsby 
faxing this page to us at 603-226-9336, calling Erin at 603-226-9331 or by giving this 
form to today's speaker! 
Name 			Company 
	----~---------------------- 		------------------------------- 
	Address 	_ 
	City 	State 	Zip code 	_ 

	Telephone No. 	_ 

Fax Number 
--------------------------- 

E-mail address 
--------------------------------------------------------------- 
	E-mail or Hardcopy Version? 	_ 
Annual subscriptions to EcoTrendsare $795. Log on at www.ecotrends.orgor call Erin at 603-226-9331 
or fax 603-226-9336 to get started today. ITR accepts MasterCard, Visa and American Express. JTR, 11 
Depot Street, Concord, New Hampshire, 03301, e-mail us at: itr(mecotrends.org
Reproduction of the material contained in this issue of EcoTrends in whole or part is forbidden without written permission granted by 
the Institute for Trend Research.