federatr.?;; g»v oar. u.s. financial data · currency in circulation (currency held by the public...
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FederaTR.?;; G»V3 Oar.
U.S. Financial Data IIIHKMKISI.KMIVVNKofST.MM IS
THE WEEK'S HIGHLIGHTS:✓ According to the final estimate, real gross domestic product (GDP)
rose at a revised 4.1 percent annual rate in the second quarter, up 0.3 percentage points from last month's preliminary estimate. The final estimate was boosted largely by additional inventory accumulation. Real GDP has also increased 4.1 percent over the past four quarters.
August sales of new single-family homes were at an annual rate of 703,000, 9.7percent higher than the revised July rate of641,000 and up 9 percent from August 1993.
✓ Following a 4 percent decrease in July, advance new orders for manufactured durable goods rebounded strongly in August, increasing 6 percent to $154 billion.
✓ The Conference Board’s index of consumer confidence, which averaged 100 in 1985, decreased 2 percentage points in September to 88.4, its third consecutive monthly decline.
✓ Bank reserves adjusted for reserve requirements have declined at a 2.5 percent rate from the average of the two weeks ending on February 16, 1994, to the average of the two weeks ending on September 14 (see page 4). Compared with a year earlier, however, adjusted reserves have risen 2.6 percent.
All data are seasonally adjusted unless otherwise indicated.
U.S. Financial Data is published weekly by the Research and Public Information Division of the Federal Reserve Bank of St. Louis. The cost for a subscription is $21 for one year (50 issues) or $36 for two years (100 issues). For more information or to request an order form, please call (314) 444-8808 or (314) 444-8809.
Information in this publication is also included in the Federal Reserve Economic Data (FRED) electronic bulletin board. You can access FRED with a personal computer and a modem at (314) 621-1824.
Digitized for FRASER http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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2
Adjusted Monetary BaseAverages of Daily ngures Billions of DollarsBillions of Dollars Seasonally Adjusted
1994 Billions
450 “Aug 3 446.it t A AG i
Sep 14 450.6
4 II 1 IS 21 1] !7 ID 24 I 22 S II 2 II 2 1i !0 IJ 27 II 25 II 22 6 21 3 17 11 14 21 12 21Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct
1993 1994Latest data plotted reserve maintenance period ending: September 28, 1994The adjusted monetary base is the sum of reserve accounts of financial institutions at Federal Reserve banks, currency in circulation (currency held by the public and in the vaults of all depositoryinstitutionsj and an adjustment for reserve requirement ratio.changes. The major source of adjusted monetary Basejs Federal Reserve credit. Data are computed by this bank. A detailed description of the adjusted monetary base is available from this bank.Recent data are preliminary.
Adjusted Monetary BaseCompounded annual rates of change, average of two maintenance periods ending:
To the average of g/2g/93 12/22/93 3/2/94 3/30/94 4/27/94 5/25/94 6/22/94 8/3/94two maintenance periods ending:
3/2/94 10.63/30/94 9.2 12.74/27/94 9.4 12.2 6.15/25/94 8.7 10.6 5.3 7.16/22/94 8.7 10.4 6.2 7.7 6.28/3/94 8.6 9.9 6.7 7.8 7.0 8.4
8/31/94 8.6 9.7 6.8 7.8 7.1 8.2 7.99/28/94 8.4 9.3 6.7 7.5 7.0 7.7 7.4
Prepared by Federal Reserve Bank of St. Louis
Digitized for FRASER http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
Money Stock (M1) and Total Checkable DepositsAverages ot Daily Hgures
Seasonally AdjustedBillions of Dollars Billions of Dollars
M11994 Billions
kug 15 1148.3 22 1154.2 29 1154.4
»ep 5 1155.4 12 1152.5 19 1151.2
M1 (left scale).
TCO (right scale)
BillionsAug 15 795.3
800.4798.9
Sep 5 800.1797.7795.9
2 It 30 13 27 11 25 8 22 5 20 3 17 31 11 20 14 28 11 25 3 23 i 20 4 10 1 15 29 12 2i 10 24Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct
1993 1994
Latest data plotted week ending: September 19, 1994 Current data appear in the Federal Reserve Board's H.6 release.M1 is the sum of currency held by the nonbank public, demand deposits, other checkable deposits and travelers checks.Total checkable deposits is the sum of demand deposits and other checkable deposits at depository institutions.
Money Stock (Ml)To the average Compounded annual rates of change, average of four weeks ending:
9/20/93 12/20/93 2/21/94 3/21/94 4/16/94 5/16/94 6/20/94 7/1B/94
ending:2/21/94 7.63/21/94 7.2 5.44/18/94 6.6 4.8 3.85/16/94 5.2 3.0 1.0 -0.96/20/94 5.3 3.4 2.3 1.5 0.97/18/94 5.1 3.5 2.6 2.1 1.8 4.78/22/94 4.9 3.4 2.6 2.2 2.1 4.0 3.39/19/94 4.6 3.2 2.5 2.1 2.0 3.4 2.7 2.2
Prepared by Federal Reserve Bank of St. Louis
3Digitized for FRASER http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
4
Adjusted ReservesBillions of Dollars Seasonally Adjusted Billions of Dollars
1994 Billions
Jul 6 102.020 105.2
Aug 3 102.417 105.031 103.1
Sep 14 104 0
20 3 17 31 14 28 12 214 II 1 IS 25 13 27 10 24 8 22 5 19 2 U 2 IS 30 13 27 11 25 8 22Feb Mar Apr May Jun Jul Aug Sep OctAug Sep Oct Nov Dec Jan
1994
m
IDE
102
98
94
90
Latest data plotted two weeks ending: September 14, 1994
Adjusted reserves is the difference between adjusted monetary base and currency component of M1.
Adjusted Reserves
To the average ofCompounded annual rates of change, average of two maintenance periods ending:9/15/93 12/8/93 2/16/94 3/16/94 4/13/94 5/11/94 6/8/94 7/20/94
periods ending:
2/1S/94 10.13/16/94 7.7 11.44/13/94 4.7 5.5 -8.95/11/94 3.7 3.8 -7.2 -8.46/8/94 3.7 3.8 -4.6 -4.5 0.0
7/20/94 3.2 3.1 -3.3 -3.0 0.0 1.58/17/94 3.0 2.9 -2.6 -2.2 0.3 1.4 0.59/14/94 2.7 2.4 -2.5 -2.1 0.0 0.8 0.0 0.0
Prepared by Federal Reserve Bank of St. Louis
Digitized for FRASER http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
• •Money Multiplier1/
seasonally AdjustedRatio Ratio
Compounded annual rates of change, average of the four weeks ending September 12. 1994 from the four weeks ending:Sep 13, 1993 -3.2 Dec 20, 1993 -5.3 Mar 14. 1994 -4.2 Apr 25, 1994 -4.2 May 23. 1994 -3.5 Jun 20, 1994 -3.6 Jul 18. 1994 -3.5
Ratio
Jul 42.574
Aug 1 2.5942.5542.569
Sep 12 2.561
22 8 20 3 17 31 14 28 14 28 11 25 9 23 8 20 15 29 12 28 II 24Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct
1993 1994Latest data plotted two weeks ending: September 12. 1994
Billions of Dollars355
315
Currency Component of M12/Averages of Daily Figures
Seasonally Adjusted Billions of Dollars355--------- 1--------- 1---------
Compounded annu rates of change, average of the four weeks ending
. September 19, 1994 the four weeks endSep 20. 1993 1C Dec 20. 1993 1C Mar 21. 1994
al
fromng:.3.9.4
MayJunJul
16, 1 20, 1 1B, 1
994994994
. 1
.9
.2
199
Aug
± Bill]
15 3422 34
ons4.85.5
Sep29 347.0 “
5 347.012 346.319 346.9
335
325
315
315
335
325
305
- 315
3052 li 31 13 27 II 15 I 21 6 20 3 12 31 11 21 11 20 II 25 1 23 t 10 1 II 1 15 2) 12 II 10 21
Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct1993 1994
Latest data plotted week ending: September 19, 1994 1/ Ratio of M1 to adjusted monetary base2/ Current data appear in the Federal Reserve Board's H.6 release.
Prepared by Federal Reserve Bank of St. Louis
5Digitized for FRASER http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
6
Yields on Selected SecuritiesPercent PercentAveroges of Doily Figures
Corporate
Prime Bank Loan Rate
Commercial
15 29 12 2$ 10 24 7 21 4 II II I 15 29 13 27 10 24 2 II 30Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct
1993 1994Latest data plotted are averages of rates available for the week ending: September 30, 1994
1994
30—Day Commercial
Paper90-Day
CDs
90—Day Bankers'
AcceptancesCorporate
Aaa BondsCorporate
Baa BondsMunicipal Bonds **
Jul 8 4.53 4.78 4.72 8.18 8.87 6.2715 4.55 4.78 4.69 8.17 8.86 6.2222 4.44 4.65 4.59 8.06 8.75 6.2229 4.46 4.70 4.61 8.05 8.74 6.22
Aug 5 4.45 4.68 4.61 7.96 8.64 6.1612 4.54 4.79 4.71 8.12 8.79 6,2519 4.74 4.86 4.60 8.07 8.73 6.2226 4.79 4.87 4.79 8.13 8.79 6.21
Sep 2 4.80 4.88 4.81 8.09 8.76 6.169 4.82 4.89 4.81 8.22 8.88 6.18
16 4.87 4.96 4.88 8.32 8.97 6.2423 4.93 5.08 5.01 8.41 9.04 6.3730 * 5.01 5.17 5.09 8.46 9.08 NA
Current data appear in the Federal Reserve Board's H.15 release.* Averages of rates available** Bond Buyer's Average Index of 20 municipal bonds, Thursday data N.A. - Not Available
Prepared by Federal Reserve Bank of St. Louis
.w
Digitized for FRASER http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
Selected Interest RatesAverages of Daily FiguresPercent Percent
3-Month -Treasury Bill
Funds Rate
3.0Discount Rate
6 20 3 17 1 15 29 12 26 10 24 7 21 4 16 4 18 1 15 29 13 27 10 24 8 22 5 19 16 30 14 28Aug Sep Oct Nov Dec Feb Mar Apr May Jun Jul Aug Sep Oct
Latest data plotted are averages of rates available for the week ending: September 30, 1994
1994Federal Funds **
3—Month Treasury
Bill
1 —Year Treasury
Bill
5-YearTreasury
Securities
1 0—Year Treasury Securities
Long-TermTreasurySecurities
Jul 8 4.38 4.28 5.19 6.95 7.34 7.6415 4.30 4.37 5.18 6.97 7.36 7.6522 4.30 4.30 5.10 6.83 7.23 7.5229 4.28 4.39 5.22 6.89 7.26 7.52
Aug 5 4.28 4.34 5.12 6.77 7.15 7.4112 4.26 4.40 5.29 6.96 7.31 7.5819 4.35 4.56 5.30 6.90 7.24 7.5326 4.66 4.55 5.31 6.92 7.27 7.58
Sep 2 4.72 4.56 5.26 6.83 7.21 7.529 4.74 4.56 5.30 6.95 7.33 7.65
16 4.70 4.59 5,38 7.05 7.44 7.7623 4.73 4.71 5.53 7.17 7.54 7.8430 * 4.66 4.68 5.56 7.22 7.58 7.B8
Current data appear in the Federal Reserve Board's H.15 release excluding long-term Treasury securities which are computed by this bank. Treasury bill yields are on a discount basis.* Averages of rates available** Seven—day averages for week ending two days earlier than date shown
Prepared by Federal Reserve Bank of St. Louis
7Digitized for FRASER http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
8
Money Stock (M2) and Non-M1 Components of M2Averages of Daily Figures
Seasonally Adjusted Billions ol DollarsBillions of Dollars
M21994 Billions
Aug 15 3596.9 22 3600.5 29 3597.5.
Sep 5 3594.0 12 3595.3 19 3594.2
M2 (left scale)
M2 (right scale)Non-M1 M2 1994 Billions
Aug 15 2448.6 22 2446.3 29 2443.1
Sep 5 2438.6 12 2442.8 19 2443.0
2 IS 30 13 27 11 25 Aug Sep Oct
1993
8 22 6 20 3 17 31 14 21 14 28 11 25 S 23 S 20Nov Dec Jan Feb Mar Apr May Jun
1994
4 18 1 15 28 12 2S II 24Jul Aug Sep Oct
Latest data plotted week ending: September 19, 1994 Current data appear in the Federal Reserve Board's H.6 release.M2 is the sum of Ml, overnight RPs issued by all commercial banks, overnight Eurodollars issued to U.S. residents by foreign branches of U.S. banks, savings (including money market deposit accounts), small time deposits and general purpose and broker/dealer money market mutual funds. For more detail, see the H.6 release.
Money Stock (M2)To the average
Compounded annual rates of change, average of four weeks ending:9/20/93 12/20/93 2/21/94 3/21/94 4/18/94 5/16/94 6/20/94 7/18/94
ending:
2/21/94 1.43/21/94 1.9 1.54/1B/94 2.3 2.3 4.75/16/94 1.9 1.7 2.8 1.96/20/94 1.8 1.5 2.2 1.5 0.17/18/94 1.8 1.6 2.2 1.6 0.7 1.48/22/94 1.7 1.5 1.9 1.4 0.7 1.2 1.49/19/94 1.5 1.2 1.5 1.0 0.3 0.6 0.5 -0.1
Prepared by Federal Reserve Bank of St. Louis
Digitized for FRASER http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
Billions of Dollars1295
1255
Savings and Small Time DepositsAverages of Daily Figures
Seasonally Adjusted Billions of Dollars195--------- 1--------- 1---------
Savings1994 Billions
Aug 1 5 11 94.222 1194.829 1194.3
----------I--------- 1---------Small Time 1994 Billions
Aug 15 777.422 777.929 778.9
12 11 19 11 £
8.95.9 Savi ig« De >o«tt«( eft sea le) 12 78
19 781.94.4
•*» ^ Sim II Time (right scale)
—^1175
855
815
775
7351135! If 30 13 !7 11 25 0 22 f 20 3 17 31 14 20 14 !i 11 25 0 23 f 20 4 II I 15 29 12 21 10 24
Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct1993 1994
Note: Savings deposits are at all depository institutions.
Large Time Deposits and Money Market Funds1/All Depository Institutions
Averages of Daily Figures. Seasonally AdjustedBillions of Dollars Billions of Dollars
Large Time 1994 Billions
Aug 1 5 340.222 339.529 340.8
-Sep 5 341.812 344.419 345.5
Money Market 1994 Billions
Aug 15 364.522 363.929 359.6
Sep 5 358.0 —12 362.019 364.1
2 If 30 13 27 11 25 8 22 6 20 3 17 31 14 28 14 28 11 25 9 23 i 20 4 18 1 IS 28 12 2$ 10 24Aug Sep Oct Nov Dec
1993Jan Feb Mar Apr May Jun
1994Jul Aug Sep Oct
Latest data plotted week ending: September 19, 19941/ Large time deposits are those issued in denominations of $100,000 or more.Money market funds are general purpose and broker/dealer. Prepared by Federal Reserve Bank of St. Louts
9Digitized for FRASER http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
10
Total BorrowingsFrom Federal Reserve Banks
Billions of Dollars Billions of DollarsAverages of Daily Figures
1994 Billions
Aug 24 0.4850.511
Sep 7 0.4610.4330.503C.566
4 18 1 15 2! 13 27 II 24 I 22 S IS 2 tS 2 16 30 13 27 11 25 I 22 6 20 3 17 31 14 21 12 26Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct
. . 1993 1994Borrowings include seasonal, adjustment and extended credit; extended credit was $1 million in the week ending July 20. 1994 and was zero in the other weeks shown in the chart.
Bank Loans and CreditBillions of Dollars
3325
3275
3225
3175
3125
3075
3025
2975
All Commercial Banks in the United States Seasonally Adjusted
VBillions of Dollars
2450-------- 1---------Bank Cr 1994 fiil
Aug 10 32 17 32 24 32 31 32
—editions46.247.3 62.7 69.1
14 32^3. j 60.8
Beink Cr*dit (lef : scale)2/ /
s “✓
^ /
*
'w Loan1994
stScLeaBillie
sesV't/s'
/*
Li •one and Leas (rig it seal 0Aug 10 2284.0
17 2284.724 2294.831 2302.4
Sep1
7 2296.84 2294.5
4 II 1 15 21 13 27 10 2* I 22 5 19 2 It 2 It 30 13 27 11 25 I 22 t 20 3 17 31 14 21 12 2i
2400
2350
2300
2250
2200
2150
2100Aug Sep Oct Nov Dec Jan Feb Mar Apr
1993Latest Wednesday data plotted : September 14, 1994 Current data appear In the Federal Reserve Board's H.8 release. 1/ Includes foreign-related institutions 2/ Includes loans and leases and securities
May Jun 1994
Jul Aug Sep Oct
Prepared by Fedora' Reserve Bank of St. Louis
Digitized for FRASER http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
Commercial Paper of Nonfinancial CompaniesNot Seasonally AdjustedBillions of Dollars Billions of Dollars
1994 Billions
Aug 17 150.105
149.180Sep 7 148.938
148.341155.605
I U 1 IS 2! 13 11 II 21 ! 2! 5 I) 2 ID 2 11 ID 1] 27 II 25 I 2! I 20 ] 17 31 II 21 1! 21Aug Sep Oct Nov Dec Jon Feb Mar Apr May Jun Jul Aug Sep Oct
1993 1994Latest data plotted week ending: September 21, 1994
Billions of Dollars(30
Commercial and Industrial LoansBillions of Dollars
330--------1---------1---------All Banks
1994 Billions /***
Sep
17 621.724 623.431 622.9
7 624.114 623.5
Banks (left s :ale)^ / . /"Al
f **
'
N/ f
3e Ban Billie
0 3017 3024 302
ks__ns.0.8.7-*• — — 1
x_/
• v' 1994Aug 1
2
Large Banka (right scale
___
)2/
___
31 302.8Sep 7 302.2
14 302.7I I
11Aug
15Sep
13 27 Oct
1993
10 24 Nov
8 22 Dec
5 IS Jan
MM16
Feb16 30 13 27
Mar Apr
'kMay
19
8 22 Jun
94
6 20 Jul
3 17 3Aug
14 21 Sep
12 2 Oct
020 -
(ID
60S
550
5BD
570
320
310
300
290
200
270
Latest Wednesday data plotted : September 14. 1994 Current data appear in the Federal Reserve Board's H.8 release. 1/ Includes foreign—related institutions 2/ Weekly reporting, domestically chartered banks
Prepared by Federal Reserve Bank of St. Louis
11Digitized for FRASER http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
Dollar’s Trade-Weighted Exchange Index1973=1001973=100 Averages of Daily Figures
1124 1973=1 PPAug 24
1 IS 2! 13 27 10 24 22 5 1! 2 If 2 10 30 13 27 11 25 0 22 6 20 3 17 31 14 28 12 28Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct
1993 1994
Latest data plotted week ending: September 28, 1994 Current data appear in the Federal Reserve Board's H.10 release.Data are weighted averages of the foreign-currency price of the U.S. dollar, computed using 10 industrial country currencies.
Prepared by Federal Reserve Bank of St. Louis
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X ^ 0S> *2 Ui
ce osCQ „
w m 9! JIM
Digitized for FRASER http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis