Full text of U.S. Financial Data : October 5, 1995

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LWKiig

T 5,1995

FEDERAL
reserve
Jj
a llVNKol

EAR«H

si: ix w is

THE WEEK'S HIGHLIGHTS:
90site index of leading economic indicators rose
ofr i%m,

it in August, offsetting the 0.2 percent decline in July
and only the second increase this year.

✓ New factory orders for manufactured goods rose 2.6 percent in
August, up strongly from the 0.3 percent gain over the previous
three months. The August increase, which was the largest since
November 1994, was paced by a 4.8 percent rise in durable goods
orders. Factory orders are not adjusted for inflation.

✓ Total new construction put in place fell 0.2 percent in August after
rising 1.6 percent in July. Over the past six months, construction
spending has increased 1.7 percent, down from a 2.3 percent
increase over the previous six months. New construction spending
is not adjusted for inflation.
According to the final estimate, real gross domestic product (GDP)
rose at a 1.3 percent annual rate in the second quarter, the small­
est increase since the first quarter of 1993. The final estimate was
0.8percentage points higher than July’s advance second-quarter
estimate. Measured from four quarters earlier, real GDP has
increased 3.3 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
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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.


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Federal Reserve Bank of St. Louis

2
Adjusted Monetary Base
Averages of Daily Ngures
Seasonally Adjusted

Billions of Dollars

1995

Billions

Jul 1
Aug 2

466.9
467.0
468.7
468.1
469.2
468.8

_ Sep 13

Billions of Dollars

3 17 31 14 28 12 28 9 23 7 21 4 18 1 15 1 15 29 12 26 II 24 7 21 5 19 2 16 30 13 27 11 25
Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

1994

Jun

Jul

Aug

Sep

Oct

1995

Latest data plotted reserve maintenance period ending: September 27, 1995
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
To the average of
two maintenance
periods ending:
3/1/95
3/29/95
4/26/95
5/24/95
6/21/95
8/2/95
B/30/95
9/27/95

Compounded annual rates of change, average of two maintenance periods ending:
3/29/95 4/26/95 5/24/95 6/21/95 8/2/95
9/2B/94 12/21/94 3/1/95

6.2
5.8
5.9
6.1
5.3
4.3
4.3
4.1


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

6.9
6.8
7.0
5.7
4.3
4.2
4.0

4.9
5.8
4.0
2.5
2.7
2.6

7.1
4.2
2.3
2.6
2.4

3.1
1.1
1.7
1.7

-1.4
0.1
0.4

0.7
1.0

2.8

Prepared by Federal Reserve Bank of St. Louis

Money Stock (Ml) and Total Checkable Deposits
Averages of Daily Figures

Billions of Dollars

1190

1

Billions of Dollars

1

1

M1
1995 Billions
Aug 21
28
Sep 4
11
18
25

1170

845

1

TCD
1995 Billions

1145.3
1143.6
1142.2
114 2.4
114 0.2
114 0.7
M

Aug 21
28

768.1
765.6

1
8
25

76 5.2
76 2.6
76 2.6

825

(left s cale)

1150

805

k
\
\

lb
*

1130

N'

785

V
1

/s\
r'"
N_
---- ^

' rco (ri< ht see le)

'J
765

1090
1 15 2! 12 25 10 24 7 21 5 19 2 15 30 13 27 13 27 10 24 8 22 5 19 3 17 31 14 28 11 25 9 23
Aug

Sep

Oct Nov

Dec

Jan

Feb

Mar

Apr

May

1994

Jun

Jul

Aug

Sep

Oct

1995

Latest data plotted week ending: September 25, 1995
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)
Tn
of four weeks

Compounded annual rates of change, average of four weeks ending:
9/26/94 12/26/94 2/27/95 3/27/95 4/24/95 5/22/95 6/26/95 7/24/95

ending:
2/27/95
3/27/95
4/24/95
5/22/95
6/26/95
7/24/95
8/28/95
9/25/95

-0.8
-0.4
-0.4
-0.9
-0.8
-0.9
-0.7
-0.9


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

0.1
0.1
-0.8
-0.7
-0.9
-0.6
-0.8

0.8
-0.9
-0.8
-1.0
-0.6
-0.9

-2.3
-1.6
-1.7
-1.0
-1.3

-2.1
-2.1
-1.2
-1.5

-1.1
-0.2
-0.9

-0.2
—1.0

-0.6

Prepared by Federal Reserve Bank of St. Louis

3

745

4
Adjusted Reserves

1995

Billions of Dollars

Seasonally Aajustea

Billions of Dollars

Billions

Jul 19 100.4
-Aug 2 99.5
16 100.7
Sep 13 100.8

3 17 31 14 28 12 28 9 23 7 21
Aug Sep

Oct
1994

Nov

Dec

Feb

Mar

Apr

May

Aug

Jun

Sep

Oct

Latest data plotted two weeks ending: September 27, 1995
Adjusted reserves is the difference between adjusted monetary base and currency component of Ml

Adjusted Reserves
ComDounded annual rates of change, average of two maintenance periods ending:
To the average of 9/28/94 12/21/94 3/1/95 3/29/95 4/26/95 5/24/95 6/21/95
B/Z/95
two maintenance
periods ending:
3/1/95
3/29/95
4/26/95
5/24/95
6/21/95
8/2/95
8/30/95
9/27/95

-0.5
-4.6
-5.1
-4.7
-4.7
-4.1
-3.7
-3.2


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Federal Reserve Bank of St. Louis

0.7
-1.4
-1.4
-2.0
-1.6
-1.3
-0.9

-16.9
-12.0
-10.3
-7.6
-6.3
-5.1

-5.0
-5.0
-3.4
-2.6
-1.8

-3.2
-1.8
-1.1
-0.5

-1.1
—0.3

Prepared by Federal Reserve Bank of St. Louis

Money Multiplier1 /
Averages of Daily Figures
Seasonally Adjusted

Ratio

3.1

Compounded annual
rates of change,
average of the four
weeks ending
September 25, 1995 from
the four weeks ending:
Sep 26, 1994 -4.8
Dec 19, 1994 -4.6
Mar 27, 1995 -3.6
Apr 24, 1995 -3.2
May 22, 1995 -1.4
Jun 19, 1995 -1.1
Jul 31, 1995 -4.2

Ratio
Jul 17
Aug 14
Sep 1 1

2.441
2.445
2.435

2.9

2.7

2.5

2.3

I I5 29 12 26 10 24 7 21 5 19 2 16
Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

14 28 11 25 9 23

Jun

Aug

1994

Sep

Oct

Latest data plotted two weeks ending: September 25, 1995

Currency Component of M12/
Averages of Daily Figures

Billions of Dollars

395

375

395

Billions of Dollars

I--------- 1---------- —
Compounded annu al
rates of change,
average of the fou
weeks ending
September 25, 1995 from
the four weeks end ng:
Sep 26, 1994 6 .3
Dec 26, 1994 5 .5
Mar 27. 1995 3 .6
Apr 24, 1995 2 .3
May 22. 1 995 0 .6
Jun 26, 1 995 1 .2
Ju 1 24, 1 995 3 .2

385

375

365

355

355
199.5
Aug

395

Sep

335
15 29 12 26 11 28 2 21
Aug
Sep Oct Nov
1994

5 IS 2 16 JO 13 2? |J 27 10 28
Dec Jan
Feb Mar Apr

8 22 5 IS
May Jun
1995

r> i '

1

4
11
18
25
1
■ 1 ■ I1' 1

Billions
36 B.4
9.1
36 B.4
36 B.4
36 B.8
36 9.1
' 1

*~~T'1 1

17 3 14 28 11 25 9 23
Jul
Aug Sep Oct

Latest data plotted week ending: September 25, 1995
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

385

335

6
Yields on Selected Securities
Percent

Percent

Averages of Daily Figures

Corporate

■»

«*

Municipal Bonds

5 19 2 IS 30 14 28 11 25 9 23 6 20 3 17 3 17 31 14 28 12 26 9 23 7 21
Aug

Sep

Oct
1994

Nov

Dec

Jan

Feb

Mar

Apr

May
Jun
1995

Jul

Aug

Sep

Oct

Latest data plotted are averages of rates available for the week ending: October 6, 1995

1995

30—Day
Commercial
Paper

90-Day
CDs

90—Day
Bankers'
Acceptances

Corporate
Aaa Bonds

Corporate
Baa Bonds

Municipal
Bonds **

Jul 14
21
28
Aug 4
11
18
25
Sep
1
8
15
22
29
Oct 6 *

5.82
5.82
5.84
5.85
5.84
5.87
5.84
5.84
5.82
5.81
5.80
5.85
5.86

5.73
5.75
5.77
5.75
5.75
5.80
5.77
5.75
5.75
5.71
5.70
5.78
5.80

5.62
5.66
5.66
5.65
5.66
5.70
5.69
5.67
5.66
5.64
5.62
5.70
5.71

7.26
7.48
7.56
7.57
7.59
7.64
7.58
7.41
7.33
7.29
7.31
7.33
7.23

7.88
8.13
8.19
8.19
8.22
8.26
8.20
8.04
7.95
7.91
7.93
7.95
7.85

5.81
5.99
5.97
6.03
6.07
6.12
6.08
5.98
5.90
5.83
5.91
6.00
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

9.1

9.0

0.0

f

s

0—Yea '
Treasu y Sscu Wes

s

\

> *
*s_

7.0

7.0

t-------\
Fed*f al
Funds tats

\

E.O

-A—*

5.0

r

/r
✓ /

f 3-i lonth" “ s.
Treat wry Bill

-^

\

n

Vs
h

,/N

✓
• __ v1 * /

■s

mm ^ mm

DiicountF ate

5.0

V

J
3.0

•T| r
I

u

Aug

• i ■ i 'I'M r ' i i T' 1 ■

• i r r' i '

I ID J! 11 a n a i u l 21 i 1/ i 17 71 14 2! II 21 S 23 7 II 4 1!
Sep

Oct
Nov
Dec Jan
Feb Mar
Apr
May
Jun Jul
Aug
1994
1995
Latest data plotted are averages of rates available for the week ending: October 6, 1995

1995
Jul 14
28
Aug 4
11
25
1
8
15
22
29
Oct 6 *

Sep

Federal
Funds **
5.81
5.72
5.75
5.83
5.73
5.74
5.70
5.71
5.77
5.73
5.78
5.80
6.00

I

15 29 13 27

Sep

Oct

3—Month
Treasury
Bill

1 -Year
Treasury
Bill

5-Year
Treasury
Securities

10—Year
Treasury

Long-Term
Treasury

5.39
5.43
5.44
5.42
5.40
5.44
5.41
5.31
5.33
5.31
5.22
5.26
5.31

5.17
5.31
5.39
5.36
5.39
5.52
5.48
5.34
5.32
5.29
5.26
5.37
5.32

5.81
6.11
6.21
6.19
6.24
6.36
6.28
6.08
5.99
5.96
5.98
6.08
5.95

6.09
6.37
6.46
6.48
6.50
6.57
6.52
6.31
6.20
6.15
6.17
6.26
6.13

6.47
6.81
6.83
6.87
6.83
6.55
6.53
6.38
6.56
6.62
6.49

* 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

3.0

8
Savings and Small Time Deposits
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars
Small Time
1995 Billions

Savings
1995 Billions
Aug 21 1099.8"
28 1100.1
Sep 4 1099.3
11 1101.6
■
18 1106.1 25 1107.5

Aug 21
28
Sep 4
11
18
25

927.1
927.5
927.6
928.3
929.1 —
929.7

Small Time (right scale)

Savings Depostt* (left scale)

1 15 29 12 26 IB 21 7 21 5 19 2 16 30 13 27 13 27 10 24 0 22 5 19 3 17 31 14 28 11 25 9 23
Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Aug

Jul

Jun

Sep

Oct

1995

___
1994

Note: Savings deposits are at ail depository institutions.

Large Time Deposits and Money Market Funds1 /
All Depository Institutions
Averages of Daily Figures, Seasonally Adjusted

Billions of Dollars

Billions of Dollars
— —i— 540
Mo ley Market
199 5 Billions

540 --------- 1--------Large Tinne
1995

Bill! ons

21 39 9.3
505 _Aug 28
39 9.5

470

Sep 4
11
18
25

Sep

40 0.3
40 1.0
40 1.6
40 2.5

.1
.8
4
1
; 8
.5

456.6 __ 505
458.1
462.5
462.2
462.5
462.1
470

<«*

435
Mon ry Mark et

400

*

4•

/

*

400

—

----- V

435

S

jarge T rm«

365

365

330

330
1 15 29 1! !i 10 24 7 II 5 19 ! 10 31 13 27 13 27 10 24 0 22 5 19 3 17 31 14 20 11 25 9 23
Aug

Sep

Oct

Nov

1994

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

1995

Latest data plotted week ending: September 25, 1995
1 / 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. Louis


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

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

Billions of Dollars

1995

Billions of Dollars

Billions

Aug 21
28
_ Sep 4
11
18
25

3748.4
3749.6
3753.5.
3754.0
3759.3
3759.7

M2 (left seal

Non-M1 M2 (right scale)

Non-M1 M2
1995 Billions
Aug 21
28
Sep 4
11
18
25

2603.1
2606.0
2611.3
2611.1
2619.1
2619.0

1 IS 29 12 26 10 24 7 21 5 19 2 16 30 13 27 13 27 10 24 I 22 S 19 3 17 31 14 20 11 25 9 23
Aug

Sep

Oct
1994

Nov

Dec

Jan

Feb

Mar

Apr

May
Jun
1995

Jul

Aug

Sep

Oct

Latest data plotted week ending: September 25, 1995
Current data appear in the Federal Reserve Board's H.6 release.
M2 is the sum of M1, 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 9/26/94 12/26/94 2/27/95 3/27/95 4/24/95 5/22/95
6/26/95 7/24/95
ending:
2/27/95
3/27/95
4/24/95
5/22/95
6/26/95
7/24/95
8/26/95
9/25/95

0.6
0.9
1.3
1.7
3.0
3.3
3.9
3.9


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

1.5
2.0
2.6
4.3
4.6
5.2
5.2

2.9
3.7
6.0
6.1
6.7
6.4

4.3
7.1
7.0
7.5
7.0

8.9
8.2
8.4
7.7

9.5
9.3
8.3

7.9
7.0

7.1

Prepared by Federal Reserve Bank of St. Louis

9

10
Total Borrowings
From Federal Reserve Banks
Averages of Daily Figures

Billions of Dollars

1995

Billions

_ Aug 30
Sep 6

Oct

0.299
0.285
0.251
0.257
0.290
0.330

4

3 17 31 14 28 12 26 9 23 7 21 4
Aug

Billions of Dollars

1 15 I 15 29 12 29 10 24 7 21 5 19 2 16 30 13 27 11 25

Sep

Oct
Nov
Dec
Jan
Feb Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
1994
1995
,
Borrowings include seasonal, adjustment and extended credit; extended credit was $19 million in the week ending
January 25, 1995, and was zero in the other weeks shown.

Bank Loans and Credit
All Commercial Banks in the United States
Seasonally Adjusted

Billions of Dollars

V
Billions of Dollars

1995

3540

Aug 16
23
30
Sep 6

3480

31

------- 1-------Bank Cre
Bj|

2620

35 15.7
35 28.7
35 27.7
35 32.8

20 35 45.0

Bank C redit (I eft see

A —
✓

le)2/

3420
•

s

✓

*s

^*

2560
2500

.✓
2440

3360
Loan s<ScLea ses
1995 Billions

3300
Loans and li oases right s cale)
3240
*

✓

/

4 11 1 IS 1 I5 29 I 2 26 I0 24 7 21 5 19 2 16 31 13 27 II 25
Aug Sep Oct
Mar
Apr May Jun
Jul
Jan
Feb
1995

Latest Wednesday data plotted : September 20, 1995
Current data appear in the Federal Reserve Board's H.8 release
1 / Includes foreign—related institutions
2/ Includes loans and leases and securities


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

2539.2
2548.1
2548.2
2561.4
2552.2
2562.5

LI

3180
3 17 31 14 21 11 21 9 23 7 11
Aug
Sep Oct Nov Dec
1994

Aug 1 6
23
3O
Sep 6
13
2O

Prepared by Federal Reserve Bank of St. Louis

2380
2320
2260

Commercial Paper of Nonfinancial Companies

Billions of Dollars

1995

Billions of Dollars

Not Seasonally Adjusted

Billions

Aug 23
Sep

6

J 17 31 1* it 1! 2( 9 13 7 21 4 II 1 15 1 15 1! 12 21 It 21 7 II 5 IS 2 It 30 13 27 II 25
Aug Sep Oct Nov Dec Jan
Feb Mar Apr May Jun
Jul
Aug
Sep Oct
1994
Latest data plotted week ending: September 27, 1995

Commercial and Industrial Loans

Billions of Dollars

725

Billions of Dollars

1
All Ban <s
1325 Bill ions

390

705 — Aug 16 6« 4.1
Sep

605 _

23
30
6
13
20

370

6S 4.6
6S 3.8
6$ 7.3
6< 6.0
6$ 9.0
__4'

350

_ _ . * ^^ ■»

—

$

or~

SE5
Bank* (right scale)*

330

/

015

310

AH Ban a (left scale

1/

025

005

1995 Billions
Aug 1 6 344.3
2 3 344.4
3 D 343.5
’Sep
344.9 — 290
1 3 344.8
2 D 347.1

___ 1__
3 17 31 II 21 12 21 9 23 7 II 1 It 1 IS 1 15 I! 12 21 It 21 7 21 5 19 2___
It 30 1] 27 II 25
Aug
Sep Oct
Nov Dec Jan
Feb Mar Apr May Jun
Jul
Aug
Sep Oct
1994
1995
Latest Wednesday data plotted : September 20. 1995
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

Prepared by Federal Reserve Bank of St. Louis

270

Dollar’s Trade-Weighted Exchange Index
1973=100

Averages of Dally Mgures

1995 1973=100
Aug 30

Sep 6
Oct 4

3 17 31 14 28 12 26 9 23 7 21 4 18 1 15
Aug

Sep

Oct
1994

Nov

Dec

Jan

Feb

1 15 29 12 21 10 21 7 21 5 19 2 16 30 13 27 11 25
Mar

Apr

May Jun
1995

Jul

Aug

Sep

Oct

Latest data plotted week ending: October 4, 1995
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

PH

n
X
S5
H
S-H

er>


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Federal Reserve Bank of St. Louis