Full text of U.S. Financial Data : November 10, 1994

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

r

f __ November 10, 1994

! ’ * fftfsS’

i—--------------------------------------------

Federal Reserve Bank
•fiCLy4.oi4H«

incial Data
THE WEEK'S HIGHLIGHTS:
%/ The producer price index for finished goods (PPI) decreased at a
5.6percent annual rate in October, its second consecutive monthly
decline. Intermediate materials prices continued to accelerate,
however, rising at a 4.7percent rate over the past six months,
compared to a 1.2 percent rate of increase over the previous
six-month period.

✓ Total civilian employment increased at a 6.1 percent rate in October.
Since January, civilian employment has risen at a 2.5 percent rate,
while the civilian labor force has risen at a 1.2 percent rate. As a
result, the civilian unemployment rate has fallen 0.9 percentage points
since January, registering 5.8 percent in October.
✓ Business productivity (output per hour) rose at a 3.1 percent rate
in the third quarter after falling at a 2 percent rate in the second
quarter. Unit labor costs were unchanged in the third quarter,
but have risen 0.6 percent over the past four quarters.
/ Consumer installment credit outstanding increased $10.6 billion in
September, or at a 15.6 percent rate. Consumer credit has risen
14 percent since September 1993.

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) elec­
tronic bulletin board. You can access FRED with a personal computer and a modem at (314) 621-1824.

http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

2
Adjusted Monetary Base
Averages ot Daily Figures
Seasonally Adjusted

Billions of Dollars

1994

Billions of Dollars

Billions

Sep 14
Oct 12
Nov 9

449.3
450.5
451.6
451.7
453.5
451.2

I 15 2! 13 27 10 24 8 22 5 19 2 10 2 16 30 13 27 II 25 6 22 6 20 3 17 31 14 28 12 26 9 23
Sep

Oct
Nov Dec
Jan
Feb Mar Apr
May Jun Jul
Aug
Sep
Oct
Nov
1993
1994
Latest data plotted reserve maintenance period ending: November 9, 1994
The 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 depository institutions) and an
adjustment for reserve requirement ratio changes. The major source of the adjusted monetary base is 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 Base
Compounded annual rates of change, average of two maintenance periods ending:
To the average of 11/10/93 2/2/94 4/13/94 5/11/94 6/8/94
7/6/94
8/3/94
9/14/94
two maintenance
periods ending:
4/13/94
S/11/94
6/8/94
7/6/94
8/3/94
9/14/94
10/12/94
11/9/94

10.0
9.3
9.2
9.0
8.9
8.5
8.2
7.7


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

8.2
8.3
8.1
8.2
7.7
7.4
6.9

7.2
7.2
7.6
7.1
6.8
6.1

8.0
8.1
7.3
7.0
6.2

7.9
7.0
6.6
5.8

6.9
6.4
5.4

5.6
4.6

3.7

Prepared by Federal Reserve Bank of St. Louis

Money Stock (M1) and Total Checkable Deposits
Billions of Dollars

1994

Averages ot uaiiy Figures
Seasonally Adjusted

Billions of Dollars

M1
Billions

Sep 26 1154.1
Oct 3 11 50.7 ■
10 1148.4
17 1148.5
24 1149.8
31 1144.5

M1 (left scale).

TCD (right scale)

1994

TCD
Billions

Sep 26
Oct 3
10
17
24
31

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun
1994

Jul

Aug

Sep

797.5
794.2 —
791.4
790.9
791.0
783.8

Oct

Latest data plotted week ending: October 31, 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.
r
Total checkable deposits is the sum of demand deposits and other checkable deposits at depository institutions.

Money Stock (Ml)
Compounded annual rates of change, average of four weeks ending:
To the average
11/1/93 1/31/94 3/28/94 5/2/94 5/30/94 7/4/94
8/1/94 8/29/94
of four weeks
ending:
3/28/94
5/2/94
5/30/94
7/4/94
8/1/94
8/29/94
10/3/94
10/31/94

6.5
4.5
4.5
4.5
4.9
3.9
3.6
3.0


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

1.8
2.4
2.8
3.7
2.5
2.3
1.6

0.0
1.4
3.0
1.5
1.5
0.7

4.3
5.6
3.1
2.6
1.6

6.0
2.6
2.2
1.0

1.7
1.5
0.1

Prepared by Federal Reserve Bank of St. Louis

3

4
Adjusted Reserves
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

114
1994-

Billions

Aug 17
31
Sep 14
28
Oct 12
26

104.9
103.0 103.8
104.1
103.4
103.7

110

106

102

08

94

1

IS 29 13 27 10 24 I 22 5
Sep
Oct
Nov
Dec
1993

19

2

22 6
Jun
1994

16 2 16 30 13 27 11 25
Feb Mar
Apr
May

20

3

17 31 14 28 12 26
Aug
Sep
Oct

9 23
Nov

Latest data plotted two weeks ending: October 26, 1994
Adjusted reserves is the difference between adjusted monetary base and currency component of M1.

Adjusted Reserves
Compounded annual rates of change, average of two maintenance periods ending:
To the average of 10/27/93 1/19/94 3/30/94 4/27/94 5/25/94 6/22/94 7/20/94 8/31/94
two maintenance
periods ending:
3/30/94
4/27/94
5/25/94
6/22/94
7/20/94
B/31/94
9/28/94
10/26/94

1.6
3.9
1.0
1.5
1.5
1.7
1.6
1.1


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

5.1
0.0
0.9
1.0
1.4
1.3
0.6

-0.6
1.3
1.3
1.8
1.6
0.7

-6.1
-3.7
-1.4
-1.1
-1.7

3.2
3.3
2.5
1.2

2.5
1.8
0.3

2.0
0.0

Prepared by Federal Reserve Bank of St. Louis

90

Money Multiplier1/
Averages of Daily Figures
Seasonally Adjusted

Ratio

3.0

Ratio

3.0

Compounded annual
rates of change,
average of the four
weeks ending
October 24, 1994 from
the four weeks ending:
Oct 25, 1993 -3.9
Jan 31, 1994 -5.2
Apr 25, 1994 -5.0
Jun 6, 1994 -4.6
Jul 4. 1994 -5.4
Aug 1, 1994 -6.4
Aug 29. 1994 -5.0

i

1994

Ratio

Aug 15
29
Sep 12
26
Oct 10
24

20
Sep

t II I IS 1) 13 27 10 24 7 21 7 21 0 It 2 If 30 13 27 11 25
Oct
Nov
Dec
Jan Feb Mar
Apr
May
Jun
Jul
1993
1994
Latest data plotted two weeks ending: October 24, 1994

I 2!
Aug

S I)
Sep

3

2.553
2.568
2.560
2.551
2.545
2.534

17 31 if l'f
Oct
Nov

Currency Component of M12/
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

360

350

340

Billions of Dollars

--------1----------1--------- —
Compounded ann jal
rates of change,
average of the foi r
weeks ending
October 31, 1994
the four weeks en ding:
Nov 1, 1993 1 0.2
Jan 31. 1994 1 0.2
May 2. 1994 9.2
May 30, 1994 8.9
Ju 1 4. 1994 8.3
Au 9 1. 1994 8.3
Au g 29, 1994 8.1

360

350

340

330

>

3ID

I
Sep

34f
34f
34f
34<
35C
35:

I

*
Oct
Nov
1993

Sep .6
Oct 3
10
17
24
31

I

320

Bill!

u V K5cnL»L» g

330
199 4

I 1 1 ''1 1 i 1 '1 ■ » ■ ‘~’"l '
Dec

Jan

Feb

Mar

Apr

May

Jun
1994

Jul

Aug

Sep

Oct

Nov

Latest data plotted week ending: October 31, 1994
1/ Ratio of M1 to adjusted monetary base
2/ Current data appear in the Federal Reserve Board's H.6 release.


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis

5

320

310

6
Yields on Selected Securities

Percent

Percent

Averages of Daily Figures

Corporate
Aaa Bonds

Loan Rate

3

17 I IS 29 12 28 10 24
Sep Oct
Nov
Dec
1993

7 21
Jan

4 II 4 II
Feb Mar

1

IS 29 13 27
Apr
May

10 24 8 22 5 19
Jun
Jul
Aug
1994

2

18 31 14 21 11 2S
Sep
Oct
Nov

Latest data plotted are overages of rates available for the week ending: November 11,1994

1994

30-Day
Commercial
Paper

90-Day
CDs

90-Day
Bankers'
Acceptances

Corporate
Aaa Bonds

Corporate
Baa Bonds

Municipal
Bonds **

Aug 19
26
Sep 2
9
16
23
30
Oct 7
14
21
28
Nov 4
11 *

4.74
4.79
4.80
4.82
4.87
4.93
5.01
5.08
5.08
4.96
4.98
5.05
5.23

4.86
4.87
4.88
4.89
4.96
5.08
5.21
5.51
5.49
5.47
5.56
5.59
5.72

4.80
4.79
4.81
4.81
4.88
5.01
5.13
5.42
5.40
5.38
5.45
5.52
5.64

8.07
8.13
8.09
8.22
8.32
8.41
8.48
8.57
8.50
8.54
8.65
8.68
8.77

8.73
8.79
8.76
8.88
8.97
9.04
9.10
9.20
9.14
9.18
9.29
9.32
9.40

6.22
6.21
6.16
6.18
6.24
6.37
6.43
6.50
6.44
6.49
6.64
6.83
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


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Selected Interest Rates

Percent

Averages of Daily Figures

Treasury Securities

3-Month
-Treasury Hit-

Funds Rate

Discount Rats

3

17 1 15 2) 12 21 11 24
Sep
Oct
Nov
Dec
1993

7 21

4

II 4 II 1 IS 2) 13 27 II 24
Feb Mar
Apr
May
Jun
1994

I

22
Jul

5

19 2
Aug

11 31

Latest data plotted are averages of rates available for the seek ending: November 11,1994

1994
Aug 19
26
Sep 2
9
16
23
30
Oct 7
14
21
28
Nov 4
11 *

Federal
Funds **
4.35
4.66
4.72
4.74
4.70
4.73
4.66
5.07
4.62
4.72
4.72
4.77
4.74

3-Month
Treasury
Bill

1 -Year
Treasury
Bill

4.56
4.55
4.56
4.56
4.59
4.71
4.66
4.90
4.91
4.94
5.01
5.10
5.22

5.30
5.31
5.26
5.30
5.38
5.53
5.58
5.71
5.67
5.76
5.86
5.90
5.99

5—Year
Treasury
Securities

10-Year
Treasury
Securities

Long-Term
Treasury
Securities

6.90
7.24
7.53
6.92
7.27
7.58
6.83
7.21
7.52
6.95
7.33
7.65
7.05
7.44
7.76
7.17
7.54
7.84
7.25
7.60
7.89
7.38
7.72
7.99
7.30
7.65
7.92
7.37
7.71
7.97
7.53
7.86
8.08
7.61
7.94
8.14
7.69
8.19
8.00
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


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis

7

8
Money Stock (M2) and Non-M1 Components of M2
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

1_994

Billions of Dollars

M2 (left scale)

Billjons

Sep 26 3598.2
Oct 3 3594.5
3592.2.
3595.9
3594.3
3584.4

Non-M1 M2 (right scale)
Non-M1 M2
1994 Billions
Sep 26 2444.1
Oct 3 2443.8
10 2443.8
17 2447.4
24 2444.5
31 2439.9
G

20 4 18 1 15 29 13 27 10 21
Sep
Oct
Nov
Dec
Jan
1993

7

21
Feb

7

21 1 18 2 18 30 13 27 11 25 8 22
Mar
Apr
May
Jun
Jul
Aug
1994

5

19 3 17 31 14 28
Sep
Oct
Nov

Latest data plotted week ending: October 31, 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)
Compounded annual rates of change, average of four weeks ending:
To the average 11/1/93 1/31/94 3/28/94
5/2/94 5/30/94 7/4/94
B/l/94 8/29/94
ending:
3/28/94
5/2/94
5/30/94
7/4/94
8/1/94
8/29/94
10/3/94
10/31/94

2.4
2.3
2.3
1.8
2.1
1.7
1.5
1.2


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

2.1
2.2
1.4
1.9
1.3
1.1
0.8

2.0
0.8
1.7
0.9
0.7
0.4

0.4
1.7
0.7
0.5
0.2

1.4
0.2
0.1
-0.2

1.1
0.5
0.1

-1.3
-1.4

-0.9

Prepared by Federal Reserve Bank of St. Louis

Savings and Small Time Deposits
Averages of Dally Figures
Seasonally Adjusted

Billions of Dollars
ms —1—71--------Savings
1994 Billions

1255

Billions of Dollars
J!5
I
I
Small Time
1994 Billions

Sep 26 1184.3
Oct 3 1179.3
10 1176.4

Sep 26
Oct 3
10

784.9
786.0
789.2

24 11 72.6
31 11 66.8

24
31

79 5.7
79 3.6

Savin )• Dap >arts(le i scale )

1215

115
.

^

X
*

^

S

*«»

^

1175

1135

>55

f

*

Sm all Time (right scale)

^-

775

10
Sep

I IS 1 15 M 13 27 10 21 7 21 7 21 4 11 2 11 ID 13 27 11 !S
Oct
Nov
Dec
Jan
Feb Mar Apr
May
Jun
Jul
1993
1994
Note: Savings deposits are at all depository institutions.

! 22 5 1J 3 17 31 II 21
Aug Sep
Oct
Nov

735

Large Time Deposits and Money Market Funds1 /
Billions of Dollars

Billions of Dollars

Averages of Dally Figures, Seasonally Adjusted

Large Time
1994 Billions
Sep 26
Oct 3
10
17
24
31

S

Money Market
1294 Bjl.Lions

350.8
347.8
352.3
354.4
358.2
359.3

20 4 18 1 15 2) 13 27 10 24
Sep
Oct
Nov
Dec
Jan
1993

10
17
24
31

7

21
Feb

7

21 4 18 2 18 30 13 27 11 25
Mar
Apr
May
Jun
Jul
1994

8 22
Aug

5

365.3
365.1 —
364.6
365.8

19 3 17 31 14 28
Sep
Oct
Nov

Latest data plotted week ending: October 31, 1994
1/ Large time deposits are those issued in denominations of $100,000 or more.
Money market funds are general purpose and broker/dealer.
preptlred by Federal Reserve Bank of St. Louis


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

9

10
Total Borrowings
From Federal Reserve Banks
Averages of Daily Figures

Billions of Dollars

Billions of Dollars

- - - - - - - - - - - 1-4
1994

Billions
0.473
0.393

Nov 2

0.430

I

15 » IJ 27 18 24 « 22 5 19 2 16 2 18 JO 1J 27 II 25 8 2! ( 20 i 17 Jl 14 21 I! 28 ) !J
Sep
Oct
Nov
Dec Jan
Feb Mar
Apr
May Jun
Jul
Aug
Sep
Oct
Nov
.
1993
1994
Borrowings 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.

os,,,

. _ „

Billions of Dollars

Bank Loans and Credit

,,

All Commercial Banks in the United States
Seasonally Adjusted

'

Billions of Dollars

--- 1----1------------ - - - - - - - - - - - - - - - - V- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

3325

Bank
1994
Sep 21
28
Oct 5
12
19
26

Credit
Billions
3287.2'
3285.8
3280.6
3276.5
3289.6­
3292.3

Bank Credit (left scale)

Loans&Leases
. 1994 Billions
Sep 21 2318.3

Loans and Leases (right scale)

I

Oct

5 2324.1

I5 2) I3 27 Ifl 24
22 5 19 2 It 2 16 30 13 27 II 25 8 22 6 20 3 17 31 14 28 12 26 9 23
Sep
Oct
Nov
Dec
Jan
Feb Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
1993
1994
Latest Wednesday data plotted : October 26. 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
Prepared by Federal Reserve Bank of St. Louis


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

2150

Commercial Paper of Nonfinancial Companies

Billions of Dollars

1994

Billions of Dollars

Not Seasonally Adjusted
Billions

Sap 28 1 54.743
Oct 5 156.150
1 54.438
158.314
160.325
Nov 2 161.721

1

IS 2) 13 27 10 20
Sep
Oct
Nov
1993

0

22 S IS
Dec Jan

2 II 2 IS 30 13 27 11 25
Feb Mar
Apr
May

I 22

I 20
Jun Jul
1994

3 17 31 14 20 12 21
Aug
Sep
Oct

S 23
Nov

Latest data plotted week ending: November 2, 1994

Commercial and Industrial Loans

Billions of Dollars

c»fo 09>.a>i

(20

C
J
7c/1_* —
*401

(30

---------1--------All Bant s
1994 Bill ons
- Sep 21 63 0.0
28 62
Oct 5 63
12 63
19 63
26 63

Billions of Dollars

320

S

310

/

1

640

/

1

300

(30
Largo• Bank: (right scale

)2/

290
/
««»

'v.

\

v. ✓

’

x

v"

590
All B<inks (l< ift seal

t_____

510

I

15 2! II 27 10 24 I 22 5 It 2 10 2 10 10 13 27 11 25
Sep
Oct
Nov
Dec Jan
Feb Mar
Apr
May
1993
Latest Wednesday data plotted : October 26, 1994
Current data appear in the Federal Reserve Board's H.8 release.
1/ Includes foreign-related institutions
2/ Weekly reporting, domestically chartered banks


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Federal Reserve Bank of St. Louis

11

L—
I 22 I 20
Jun Jul
1994

199 4 Billions
Sep 21 306.5
28 306.9
Oct 5 307.5
12 307.1 —
19 308.0
26 308.3
______ l_____
3 17 31 14 20 12 20
Aug
Sep
Oct

t 23
Nov

Prepared by Federal Reserve Bank of St. Louis

280

Dollar’s Trade-Weighted Exchange Index
1973*= 100

Averages of Daily Figures

1973=100

1994 1973-100

Nov

Sep

Oct
Nov
1993

2

22 5 16 2 16 2 16 30 13 27
25 « 22 6 20 3 17 31 14 26 12 26 S 23
Dec
Jan
Feb Mar
Apr May
Jun
Jul
Aug
Sep
Oct
Nov
1994

Latest data plotted week ending: November 9, 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


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

2
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0

1
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