Full text of U.S. Financial Data : April 2, 1998
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April 2,1998 CH library]* IfN / KmjalData Sm is m ITDIKM. RESERVE RANK of N’LIjOLLS THE WEEK'S HIGHLIGHTS: ■ The current-dollar value of total factory orders for manufactured durable and nondurable goods fell 0.9 percent in February. After rising 2.6 percent between February 1997 and August 1997, factory orders have since declined 0.1 percent over the six months hence. ■ The National Association of Purchasing Managers ’ index of manufacturing activity measured 54.8 percent in March, its highest reading in five months. The index has been above the 50 percent level for 20 consecutive months and eight consecutive quarters. ■ The Conference Board reported that the index of leading economic indicators rose 0.4 percent in February, its largest increase in 12 months. ■ Measured in inflation-adjusted dollars, the total value of new construction spending rose 0.3 percent in February. This rise followed gains of 0.7 percent in January and 0.9 percent in December. Measured from February 1997, real construction spending has increased 1.6 percent. ■ The Conference Board’s index of consumer confidence measured 134.3 percent (1985 = 100) in March, off 3.1 percentage points from February’s level but still 15.8 percentage points higher than 12 months earlier. ■ New single-family homes sold at an annual rate of893,000 units in February, up 4.8 percent from January’s pace and the highest rate on record. New home sales are up 9.3 percent from a year earlier. _____________________ All data are seasonally adjusted unless otherwise indicated.__________ U.S. Financial Data is published weekly by the Research Division of the Federal Reserve Bank of St. Louis. For more information on data, please call (314) 444-8590. To be added to the mailing list, 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 at (314) 621-1824 or internet World Wide Web server at www.stls.frb.org/fred. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2 Adjusted Monetary Base Averoges of Doily Figures Seasonally Adjusted Billions of Dollars Billions of Dollars Billions 495.694 498.371 499.273 500.049 500.095 499.793 5 19 5 Feb 19 2 Mar 16 30 14 28 11 25 9 23 6 20 3 Apr May Jun Jul Aug 17 Sep 1 15 29 12 26 10 24 7 21 4 18 4 Feb Oct 1997 18 1 15 29 Mor 1998 The adjusted monetary bose is the sum of Federol Reserve deposits ond vault cosh held by domestic depository institutions, currency held by the public, ond on adjustment for the effect of changes in reserve requirement rotios. The monetary bose series was recently revised to include Federal Reserve deposits used to satisfy clearing balance contracts. Doto ore computed by this bonk. A detailed description of the odjusted monetary bose is available from this bonk. Recent data are preliminary. Adjusted Monetary Base Compounded onnuol rotes of chonge, overage of two maintenance periods ending: To the averoge of two maintenance periods ending: 3/26/97 6/18/97 8/27/97 9/24/97 10/22/97 11/19/97 12/31/97 8/27/97 5.3 9/24/97 5.1 5.5 10/22/97 5.4 6.0 11/19/97 6.2 7.0 7.7 9.6 12/31/97 6.6 7.5 8.2 9.4 10.2 1/28/98 6.6 7.3 7.8 8.7 9.1 2/25/98 6.6 7.3 7.7 8.4 8.6 7.7 6.5 3/25/98 6.1 6.6 6.7 7.2 7.1 6.1 4.6 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1/28/98 5.6 8.0 Prepared by Federal Reserve Bonk of St. Louis Money Stock(M1) and Total Checkable Deposits Averoges of Daily Figures Seasonally Adjusted Billions of Dollars Feb 16 Billions of Dollars Billions 1072.3 1077.0 1085.1 1078.5 1081.1 1079.8 Feb 16 Mor 2 Billions 632.7 637.2 644.8 637.9 640.6 639.1 -750 M1 (left scale) TCD (right scale) 3 17 3 17 31 14 28 12 26 9 23 7 21 Feb Mar Apr May Jun 4 18 Aug 15 29 13 27 10 24 Sep Oct 8 22 5 1997 19 2 16 2 16 30 13 27 Feb Mar 1998 Ml is the sum of currency held by the nonbank public, demand deposits, other checkoble deposits ond travelers checks. Total checkoble deposits is the sum of demand deposits ond other checkable deposits ot depository institutions. Current dota appear in the Federal Reserve Board's H.6 release. Money Stock (M1) To the overage Of four weeks ending: Compounded annuol rotes of change, average of four weeks ending: , , 3/24/97 6/23/97 8/25/97 9/22/97 10/20/97 11/24/97 12/22/97 8/25/97 -1.0 9/22/97 -1.5 0.3 10/20/97 -2.1 -1.0 -4.9 11/24/97 -0.8 0.7 -0.6 1.2 12/22/97 -0.2 1.4 0.7 2.4 6.1 1/26/98 0.0 1.4 1.0 2.2 4.5 3.3 2/23/98 0.2 1.5 1.1 2.2 3.9 2.9 3/23/98 0.6 2.0 1.8 2.8 4.4 3.7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1/26/98 Prepared by Federol Reserve Bonk of St. Louis 3 4 Adjusted Reserves Seosonolly Adjusted Billions of Dollors Billions of Dollors Jon 14 Feb 11 Uor 11 Billions 69.282 68.435 68.785 67.289 67.185 66.779 15 29 Feb Mar Apr Moy Aug Jun Sep Feb Oct Mar Adjusted reserves is the difference between the adjusted monetary base and the currency component of M1. The adjusted monetory base series wos recently revised: See the footnote to the monetary base chort for o description of the change. Adjusted Reserves Compounded onnuol rotes of change, overage of two maintenance periods ending: To the overage of two maintenance periods ending: 3/26/97 6/18/97 8/27/97 9/24/97 10/22/97 11/19/97 12/31/97 8/27/97 -2.5 9/24/97 -3.5 -2.6 10/22/97 -3.8 -3.3 11/19/97 -1.2 0.7 1.3 6.8 12/31/97 0.4 2.6 4.1 8.2 14.1 1/28/98 -0.6 0.9 1.3 3.7 6.4 1.3 2/25/98 -1.9 -1.0 -1.3 0.1 1.4 -3.5 -12.5 3/25/98 -3.2 -2.9 -3.8 -3.0 -2.5 -7.0 -14.5 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1/28/98 -7.1 Prepared by Federol Reserve Bonk of St. Louis Money Multiplier Averages of Daily Figures Seasonally Adjusted Ratio 3.0 Ratio Compounded annual rotes of change, overage of the four weeks ending March 23, 1998, from the four weeks ending: 2.8 Mar 24, J u n 16, Sep OcT 22 2.6- . . .... Nov 20 17, Dec Jan 29. 26 , 1997 1997 1997 1997 1997 1997 1 998 -5. -4 . -4 . -2 -2 Ratio 2.169 2.153 2.157 2.149 2.163 2.162 1998 Jan 12 26 Feb 9 23 Mar 9 23 . . 3.0 2.8 2.6 - 1 . 0. 2.4- 2.2 2.2 2.0 3 17 3 17 31 M 28 12 26 Feb Mor Apr Moy 9 23 Jun 7 21 Jul 4 18 Aug 1 15 29 Sep 13 27 10 24 Oct Nov B 22 5 19 2 Dec Jon 16 2 Feb 1997 Ratio of M1 to the adjusted monetary base. 16 30 13 27 Mor Apr 2.0 1998 Currency Component of M1 Averages of Daily Figures Billions of Dollars 430 - Mar Jun Sep 24. 23. 22. Nov 24 . OcT 20. 420- Seasonally Adjusted Billions of Dollors Compounded annual rotes of change, overage of the four weeks ending March 23. 1998, from lhe *°ur weeks ending: 1997 1997 1997 1997 1 99 7 10 0 7 1998 Billions Feb 16 432.2 432.4 17 3 7 31 14 28 12 26 9 23 7 21 4 18 Aug 1 15 29 13 27 10 24 Sep 1997 Current data appear in the Federal Reserve Board's H.6 release. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 8 22 5 19 2 16 2 16 30 13 27' Oct 1998 Prepored by Federol Reserve Bonk of St. Louis 5 6 Yields on Selected Securities Averages of Daily Figures Percent Percent 9.0 Prime Rote 8.0 Corporate Aaa Bonds 7.0 Commercial Paper 4.0 7 21 4 18 2 16 30 13 27 11 25 8 22 5 19 3 17 31 14 28 12 26 9 23 6 1997 1998 Jan 9 16 23 30 Feb 6 13 20 27 Mar 6 13 20 27 Apr 3 20 6 20 3 17 1998 30-Doy Commercial Poper 90-Day CDs 90-Day Bankers’ Acceptances Corporate Aaa Bonds 5.48 5.44 5.44 5.47 5.46 5.47 5.46 5.49 5.50 5.51 5.50 5.52 5.53 5.58 5.50 5.51 5.53 5.53 5.53 5.53 5.56 5.59 5.58 5.58 5.59 5.60 5.52 5.47 5.45 5.47 5.47 5.45 5.45 5.48 5.51 5.51 5.50 5.50 5.49 6.55 6.55 6.67 6.70 6.68 6.69 6.62 6.71 6.81 6.70 6.66 6.69 6.73 Corporate Boo Bonds Municipal Bonds •• 7.13 5.07 7.14 4.96 7.24 5.03 7.28 5.11 7.27 5.11 7.27 5.08 7.20 5.07 7.28 5.14 7.40 5.25 7.30 5.20 7.27 5.19 7.30 5.20 7.35 N.A. Current doto ore from the Federal Reserve Board’s H.15 releose, ond ore overoges of rotes available for the week ending on April 3, 1998 . Beginning September 2, 1997, the commercial paper role reflects new source data, which is currently available only bock to the first of the year. •• Bond Buyer's Averoge Index of 20 municipal bonds, Thursday doto Prepared by Federal Reserve Bonk of St. Louis http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Selected Interest Rates Averoges of Doily Figures Percent Percent 7.0- 30-Yeor Treasury Securities Federal Funds Rate Discount Rate 3-Month Treasury Gill 7 21 Feb 7 21 Mar 4 18 Apr 2 16 30 13 27 11 25 Moy 8 22 5 19 Aug Sep 3 17 31 14 28 12 26 Oct Nov Dec 9 23 Jon 6 20 Feb 6 20 Mar 3 17 Apr 1998 1998 Jon 9 16 23 30 Feb 6 13 20 27 Mor 6 13 20 27 3 • Apr Federal Funds •• 5.74 5.45 5.53 5.53 5.52 5.43 5.54 5.51 5.60 5.45 5.47 5.43 5.60 3-Month Treasury ____Bill 5.04 5.00 5.02 5.06 5.05 5.07 5.06 5.16 5.08 4.97 5.02 5.05 5.03 1 -Year Treasury Bill 5-Year Treosury Securities 10-Year Treasury Securities 30-Yeor Treosury Securities 4.99 4.92 4.96 5.01 4.99 5.01 5.02 5.14 5.15 5.09 5.08 5.12 5.13 5.38 5.32 5.45 5.48 5.44 5.47 5.45 5.60 5.69 5.57 5.54 5.62 5.64 5.49 5.45 5.59 5.63 5.59 5.57 5.50 5.63 5.75 5.62 5.57 5.63 5.67 5.75 5.74 5.87 5.89 5.89 5.89 5.84 5.94 6.05 5.93 5.89 5.92 5.94 Current data appear in the Federal Reserve Boord's H.15 release. • Averages of rotes avoiloble •• Seven-day averages for week ending two doys earlier thon dote shown http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federol Reserve Bank of St. Louis 7 8 Money Stock(M2) and Non-M1 Components of M2 Averages of Daily Figures Seasonally Adjusted Billions of Dollors Feb 16 Mor 2 Billions of Dollars Billions 4090.9 4106.6 4114.8 4118.9 4122.8 4122.7 M2 (left scale) Non-M1 M2 (right scale) Non-M1 M2 Billions 3018.6 3029.6 Mar 2 3029.7 3040.4 3041.7 3042.9 Feb 16 3 17 3 17 31 14 28 12 26 9 23 7 21 Feb Mar Apr Moy Jun Jul 4 18 I 15 29 13 27 10 24 Aug Sep Oct Nov 8 22 5 19 Dec Jon 1997 2 ■2800 16 2 16 30 13 27 Feb Mor Apr 1998 M2 is the sum of Ml, savings (including money market deposit accounts), small time deposits ond retail money funds. Current data appear in the Federal Reserve Board's H.6 release. Money Stock (M2) Compounded annual rotes of change, overage of four weeks ending: To the averaqe of four weeks ending: 3/24/97 6/23/97 8/25/97 9/22/97 10/20/97 11/24/97 12/22/97 8/25/97 5.1 9/22/97 5.6 6.9 10/20/97 5.5 6.4 6.5 11/24/97 5.8 6.7 6.9 6.3 12/22/97 5.8 6.6 6.8 6.3 7.0 1/26/98 6.1 6.9 7.1 6.8 7.4 2/23/98 6.3 7.1 7.4 7.2 7.7 7.8 3/23/98 6.6 7.4 7.7 7.6 8.1 8.3 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1/26/98 7.3 Prepared by Federal Reserve Bonk of St. Louis Savings and Small Time Deposits Averages of Daily Figures Billions of Dollars Seasonally Adjusted Billions of Dollars Small Time 1998 Billions Feb 16 1035- Mar 2 965.7 965.4 964.4 964.4 963.8 Savings Deposits (right scale) Small Time (left scale) Savings 1998 Billions Feb 16 1426.2 1431.2 Mor 2 1432.6 1439.1 1440.6 1440.7 3 17 3 17 31 14 28 12 26 Feb Mor Apr May 9 23 7 21 Jun Jul 4 18 1 15 29 13 27 10 24 8 22 5 19 2 16 2 16 30 13 27 Aug Sep Oct Nov Dec Jon Feb Mor Apr 1997 Savings deposits and small time deposits ore at all depository institutions. 1998 Large Time Deposits and Retail Money Funds Averages of Daily Figures Billions of Dollars Seasonally Adjusted Large Time Billions Billions of Dollars Retail Money 998 Billions 600.1 601.0 605.9 610.4 616.3 614.1 Feb 16 Mar 2 626.6 633.0 632.6 637.2 638.9 Retail Money Large Time Aug Sep Oct 1997 1998 Large time deposits and retoil money funds are at all despository institutions. Large time deposits ore those issued in denominations of $100,000 or more. Retail money funds were originally colled general purpose ond broker/dealer money market funds. Prepored by Federol Reserve Bonk 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 Billions Feb 25 Mar 4 i.oApr 1 0.028 0.016 0.021 0.022 0.045 0.031 5 19 5 19 2 16 30 14 28 11 25 9 23 6 20 3 17 1 15 29 12 26 10 24 7 21 4 18 4 IB 1 Aug Sep Oct Apr Moy Jun 15 29 1997 Borrowings include seasonal, adjustment and extended credit. Bank Loans and Credit All Commercial Banks in the United States’^ Billions of Dollors Seasonally Adjusted Bank Credit Billions 4175.7 4187.4 4199.1 4213.9 Mor 4 4226.9 4217.3 Billions of Dollars Bonk Credit (left scale)2/ Loans & Leases Feb 11 Loans and Leases (right scale) 5 19 5 19 2 16 30 14 28 11 25 9 23 6 20 3 17 1997 Billions 3064.1 3069.5 3074.9 3085.6 3097.9 3094.9 15 29 12 26 10 24 7 21 4 18 4 18 1 Feb Mar 15 29 1998 Current doto oppeor in the Federoi Reserve Board's H.8 releose. 1/ Includes foreign-reloted institutions 2/ Includes loons ond leases ond securities http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federal Reserve Bonk of St. Louis Commercial Paper of Nonfinancial Companies Not Seasonally Adjusted Billions of Dollars Feb 18 Mar 220- Billions of Dollors Bilions 211.0 212.4 2M.7 215.4 223.3 220.1 4 230 220 210 200 190 5 19 5 19 2 ■ . ■ i 180 16 30 14 28 15 29 Note: Beginning September 2, 1997, the value of commercial paper outstanding uses new source data. See the Federal Reserve Boord's H.15 release for more information. Commercial and Industrial Loans Seasonally Adjusted Billions of Dollors 880- Billions of Dollors All Bonks Billions Feb 11 868,9 873.9 877.4 881.2 879.0 874.7 All Banks (left scale)1/ Large Banks (right scale)2/ Lorge Bonks 98 Billions 454.5 457.2 459.4 460.4 458.5 459.0 Feb 11 800- 15 29 12 26 10 24 1997 21 4 18 4 18 15 29 1998 Current data appear in the Federol Reserve Board's H.8 releose. 1/ Includes foreign-reloted institutions 2/ Weekly reporting, domestically chartered bonks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7 11 Prepored by Federol Reserve Bonk of St. Louis Dollar's Trade - Weighted Exchange Index Averages of Daily Figures 1973=100 1973=100 1973=100 Feb 25 Mar 4 Apr 5 19 5 1 19 2 16 30 14 28 11 25 9 23 6 20 3 17 Sep 1 15 29 12 26 10 24 7 21 15 29 Oct Current doto appear in the Federal Reserve Board's H.10 release. Doto are weighted averages of the foreign-currency price of the U.S. dollar, computed using 10 industrial country currencies. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federal Reserve Bonk of St. Louis