Full text of U.S. Financial Data : April 3, 1997

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

APR 1 U 199!
THE WEEK'S HIGHLIGHTS:
■

After posting a 2.5 percent increase in January, the value of new
orders for manufactured durable and nondurable goods rose
0.8 percent in February. Total factory orders, which are not
adjusted for inflation, were up 7.7 percent from a year earlier.

■

The index of leading indicators rose 0.5 percent in February, its largest
gain in a year. Nine of the 10 components contributed positively to this
increase. The leading index has not declined since January 1996.

■

Real personal consumption expenditures (PCE), after rising at an
11.7 percent annual rate in January, rose at a 0.8 percent rate in
February—the weakest growth rate in five months. Real PCE
increased 2.8 percent between February 1996 and February 1997.

■

Real GDP rose at a 3.8 percent annual rate in the fourth quarter
of 1996 according to the final estimate. This was 0.1 percentage
point below the preliminary estimate and 0.9 percentage points
lower than the advance estimate. Real GDP increased 3.1 percent
measured from four quarters earlier.

■

Sales of new single-family homes were at an annual rate of
811,000 units in February, following an 817,000-unit sales pace
in January. Sales for the first two months of1997 are well above
their fourth-quarter 1996 average rate of 761,000 units.
The adjusted monetary base, adjusted reserves and the money
multiplier series have been revised to incorporate seasonal
factor adjustments.
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. The cost for a subscription is $21 for one year (50 issues) or $36 for two years (100
issues). For more information on data, please call (314) 444-8590. To request an order form,
please call (314) 444-8808 or (314) 444-8809. Sorry, no refunds.
Information in this publication is also included in the Federal Reserve Economic Data (FRED) electronic

board at (314) 621-1824 or internet World Wide Web server at http://www.stls.frb.org/fred.
Digitized bulletin
for FRASER
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
466.599
470.075
471.470
471.533
471.081
470.945

7 21
Feb

6 20 3
Mar

17
Apr

1

15 29 12 26 10 24 7 21
May

Aug

Jun

4

18 2
Sep

16 30 13 27 11 25 8 22 5

19 5
Feb

Oct

19 2
Mar

16 30
Apr

The adjusted monetory bose is the sum of Federal Reserve deposits and voult cash held by domestic depository
institutions, currency held by the public, ond on adjustment for the effect of changes in reserve requirement
ratios. The monetory bose series wos recently revised to include Federal Reserve deposits used to satisfy
clearing bolonce contracts. Oata ore computed by this bonk. A detoiled description of the adjusted monetory
bose is available from this bank. Recent doto ore preliminary.

Adjusted Monetary Base
Compounded onnuol rotes of change, average of two maintenance periods ending:
tnmUma

3/27/96

6/19/96

8/28/96

9/25/96 10/23/96 11/20/96

1/1/97

1/29/97

periods ending:
8/28/96

4.5

9/25/96

4.4

5.4

10/23/96

4.3

5.1

3.8

11/20/96

4.5

5.2

4.4

4.7

1/1/97

4.6

5.2

4.8

5.0

5.6

1/29/97

4.5

4.9

4.4

4.5

4.8

2/26/97

4.9

5.4

5.1

5.4

5.7

5.7

3/26/97

4.4

4.7

4.2

4.3

4.4

4.1


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

4.4

Prepared by Federal Reserve Bonk of St. Louis

Money Stock(M1) and Total Checkable Deposits
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

Feb 17
Mor

3

Billions of Dollars

Billions
1076.8
1080.3
1079.5
1077.4
1072.4
1068.0

Billions
667.7
670.2
669.3
666.3
661.7
656.6

Feb 17
Mar

3

M1 (left scale)

------ 7Q0

TCD (right scale)

5

19

4
Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Feb

Mor

Apr

Ml « the sum of currency held by the nonbonk public, demand deposits, other checkoble deposits and travelers
checks. Totol checkoble deposits is the sum of demand deposits and other checkoble deposits ot depository
institutions. Current doto appear in the Federal Reserve Board’s H.6 releose.

Money Stock (M1)
To the average
of four weeks
ending:

Compounded annual rates of change, overoge of four weeks ending:
3/25/96

6/24/96

8/26/96

9/23/96 10/21/96 11/25/96 12/23/96

8/26/96

-5.1

9/23/96

-5.6

-7.5

10/21/96

-6.6

-8.9

-10.6

11/25/96

-6.1

-7.5

-7.7

12/23/96

-5.3

-6.1

-5.4

-4.6

-0.6

1/27/97

-4.7

-5.2

-4.3

-3.4

-0.5

2/24/97

-4.2

-4.4

-3.4

-2.5

0.0

1.2

3/24/97

-4.5

-4.9

-4.1

-3.5

-1.6

-1.3


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

1/27/97

-7.6

0.9

Prepared by Federal Reserve Bank of St. Louis

3

4
Adjusted Reserves
Seasonally Adjusted
Billions of Dollors

Billions of Dollars
Billions
70.589
71.093
71.974
70.537
69.173
68.651

16 30
Moy

Aug

Jun

Sep

Feb

Oct

Mor

Adjusted reserves is the difference between the odjusted monetary base and the currency component of M1.
The adjusted monetory bose series was recently revised: See the footnote to the monetary base chart for o
description of the chonge.

Adjusted Reserves
Compounded annuol rates of change, averoge of two maintenance periods ending:
To the overage of
two maintenance
periods ending:

3/27/96

6/19/96

8/28/96

9/23/96 10/23/96 11/20/96

1/1/97

8/28/96

-6.5

9/25/96

-6.0

-7.0

10/23/96

-7.7

-9.6

-11.1

11/20/96

-7.6

-9.0

-9.6

1/1/97

-5.8

-6.2

-4.9

-5.3

0.4

1/29/97

-8.2

-9.4

-9.8

-11.2

-9.1

2/26/97

-6.9

-7.6

-7.3

-8.0

-5.5

-5.3

-12.5

3/26/97

-9.5

-10.8

-11.6

-12.8

-11.8

-13.0

-20.9


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

1/29/97

-12.5

-10.2

-16.4

Prepared by Federal Reserve Bonk of St. Louis

Money Multiplier
Averages of Daily Figures
Seasonally Adjusted

Ratio

Ratio

Compounded annual rates
of chonge, average of
the four weeks ending
March 24, 1997, from
the four weeks ending:
Mar
Jun
Sep

OcT

Nov
Oec
Jan

25,
17.
23.
21,
18,
30.
27.

1996
1996
1996
1996
1996
1996
1 997

Feb 10

-8.5
-9.0
-7.5
-5.8
-5.5
-5.3
-7 . 1

Mar 10

S 19 4 18 1 IS 29 13 27 10 24 8 22 S 19 2 16 30 14 28 II 25 9 23 6 20 3 1 7 3 1 7 3
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Oec

Jon

Feb

1996
Ratio of M1 to the odjusted monetary base.

Mar

Apr

1997

Currency Component of M1
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Compounded annual rotes
of chonge, overoge of
the four weeks ending
March 24, 1997. from
the four weeks ending:
Mor
Jun
Sep

OcT

Nov
Dec
Jon

25.
24,
23.
21.
25.
23.
27 ,

1996
1996
1996
1996
1996
1996
1 997

7.
8.
8.

8.

8.
7.
9.

Billions
Feb 17
Mar

400.5
401.5

3

402.8

7 3 17 31 14 28'

9 4 18
Apr

Moy

Jun

Sep

1996
Current doto oppeor in the Federol Reserve Boord's H.6 releose.


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

Oct
1997
Prepared by Federal Reserve Bank of St. Louis

5

6
Yields on Selected Securities
Averages of Daily Figures
Percent

Percent

Prime Rote

Corporate
Aoo Bonds

- 7.0

Municipal Bonds

Commercial Paper

2

16
Feb

15 29 12 26 10 24
Mar
Apr
Moy

7

21

Jun

5

19
Jul

2

16 30 13 27 11 23
Aug

Sep

Oct

8 22 6 20 3
Nov

Dec

17 31
Jan

1996

1997
Jan

10
17
24
31
Feb
7
14
21
28
Mor
7
14
21
28
Apr
*

30-Day
Commercial
Paper
5.43
5.43
5.42
5.44
5.42
5.38
5.37
5.38
5.43
5.41
5.50
5.66
5.69

90-Day
CDs
5.42
5.44
5.42
5.42
5.40
5.36
5.34
5.37
5.44
5.46
5.54
5.65
5.69

14 28 14 28 11 25
Feb

Mor

90-Day
Bankers'
Acceptances

Corporate
Aaa Bonds

Corporate
Boo Bonds

5.34
5.34
5.33
5.33
5.32
5.29
5.27
5.28
5.35
5.35
5.44
5.58
5.58

7.42
7.39
7.41
7.48
7.34
7.26
7.23
7.38
7.47
7.52
7.61
7.63
7.71

8.11
8.07
8.10
8.12
7.98
7.89
7.87
8.01
8.10
8.15
8.22
8.24
8.32

Municipal
Bonds ••
5.71
5.72
5.72
5.73
5.70
5.62
5.56
5.65
5.70
5.75
5.78
5.81
NA

Current data are from the Federal Reserve Board's H.15 release, ond ore overoges of rotes ovoiloble for the
week ending on April 4, 1997
•• Bond Buyer's Average Index of 20 municipal bonds, Thursday data
NA - Not Available


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

Apr

1997

Prepared by Federal Reserve Bank of St. Louis

w.'

Selected Interest Rates
Averoges of Daily Figures
Percent

Percent

30-Year
Treasury Securities

-

Federal
Funds Rate

Discount Rate
3-Month
Treasury Gill

2
Moy

16 30 13 27 11 25

8 22 6 20 3

17 31

14 28 14 28 11 25

Jun
1997

1997
Jon

10
17
24
31
Feb
7
14
21
28
Mar
7
14
21
28
Apr
4 •

Federol
Funds ••
5.28
5.19
5.19
5.18
5.30
5.05
5.22
5.16
5.36
5.19
5.26
5.40
5.86

3-Month
Treasury
Bill

1 -Year
Treasury
Bill

5-Yeor
Treasury
Securities

10-Year
Treasury
Securities

30-Year
Treasury

5.03
5.03
5.04
5.04
4.99
5.00
4.97
5.05
5.09
5.08
5.17
5.25
5.18

5.31
5.30
5.30
5.30
5.24
5.20
5.18
5.29
5.39
5.40
5.48
5.59
5.66

6.33
6.33
6.34
6.36
6.20
6.14
6.13
6.31
6.42
6.46
6.58
6.66
6.75

6.57
6.56
6.58
6.62
6.46
6.37
6.33
6.50
6.59
6.63
6.73
6.79
6.90

6.80
6.81
6.84
6.89
6.74
6.65
6.60
6.75
6.85
6.89
6.97
7.00
7.09

Current doto appear in the Federal Reserve Board's H.15 release.
• Averages of rotes ovoiloble
•• Seven-doy overages for week ending two doys earlier thon dote shown


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

Prepared by Federal Reserve Bonk of St. Louis

7

6.0

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

Billions of Dollars

Feb 17
Mar

3

Billions
3868.0
3869.1
3870.6
3874.9
3877.2
3880.2

Billions of Dollars

M2 (left scale)

Non-M1 M2 (right scale)

Non-Mi M2
Billions
2791.2
2788.8
2791.1
2797.5
2804.8
2812.2

Feb 17

■ 2625

5 19 4 18 1 15 29 13 27 10 24 8 22 5 19 2 16 30 14 28 11 25 9 23 6 20 3 17 3 17 31 14 28
Feb Mor
Aug
Sep
Oct
Feb Mor
Apr
Moy
Jun

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)
To the average
of four weeks
ending:

Compounded annual rates of change, average of four weeks ending:
3/25/96

6/24/96

8/26/96

9/23/96 10/21/96 11/25/96 12/23/96

8/26/96

3.2

9/23/96

3.4

3.7

10/21/96

3.3

3.4

3.4

11/25/96

3.8

4.3

4.8

5.1

12/23/96

4.3

4.9

5.6

6.0

7.7

1/27/97

4.5

5.0

5.7

6.0

7.1

6.9

2/24/97

4.5

5.0

5.6

5.8

6.6

6.3

3/24/97

4.4

4.9

5.3

5.5

6.0

5.7


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

1/27/97

Prepared by Federal Reserve Bonk of St. Louis

Savings and Small Time Deposits
Averoges of Doily Figures
Seosonolly Adjusted

Billions of Dollors

3illions of Dollors

Smoll Time
1997
Feb 17

946.8
946.9
946.2
945.7
945.6
945.2

Small Time (left scale)

Savings
Savings Deposits (right scale)

Feb

17

Mor

3

Billions
1293.7
1296.4

1293.1
1295.3
1303.5
1308.8

5 19 4 18 1 15 29 13 27 10 24 8 22 5 19 2 16 30 H 28 1 1 25 9 23 6 20 3 17 3 1 7 31 14 28
Apr

May

Jun

Aug

Sep

Oct

Feb

1996
Savings deposits ond small time deposits are ot all depository institutions.

Mor

1997

Large Time Deposits and Retail Money Funds
Averages of Doily Figures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Large Time
Feb

Retail Money

Billions
500.7
501.1
504.5

17

610“ .

1997
Feb 17
24
Mar
3

Billions
545.5
551.9
556.6
555.7
558.2

507.8

Retoil Money

Large Time

5

19

4

18

May

Jun

Sep

Oct

Feb

Mor

1996
1997
Large time deposits ond retail money funds ore ot all despository institutions. Large time deposits ore those
issued in denominations of $100,000 or more. Retoil money funds were originally colled general purpose
ond broker/dealer money morket funds.
Prepored by Federal 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 26
Mar

5

Apr

2

7 21

0.054
0.623

6 20 3

17

1

15 29 12 26 10 24 7 21
Aug

4

18 2 16 30 13 27 11 25 8 22 5
Sep
Oct

19 5

1996
Borrowings include seasonal, adjustment and extended credit.

19 2

16 30

1997

Bank Loans and Credit
All Commercial Banks in the United States1^
Billions of Pallors

Seasonally Adjusted

Billions of Dollars

Bank Credit
Billions
3841.8
3852.0
3849.5
3851.2
3851.4

Feb 12

3846.8

Bank Credit (left scale)2/

Loons Sc Leases
Billions
2817.5
2824.4
2829.6
2837.5
2840.0
2842.1

Loans ond Leases (right scale)
Mar

7

21

6

20

3

17 1 15 29 12 26 10 24 7 21
Apr
Moy
Jun

1996
Current dota appear in the Federal Reserve Board's H.8 release.
1/ Includes foreign-reloted institutions
2/ Includes loans ond leases and securities


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

........
22 5

16 30 13 27 11 25 8
4 Sep
18 2 Oct

5

19

5

19

2

16 30

1997

Prepared by Federal Reserve Bank of St. Louis

Commercial Paper of Nonfinancial Companies
Not Seasonally Adjusted

1

—
-----------1997
Feb 19
26
Mor 5
12
19
26

Billions
85.957
83.883
83.7s3
85.536
88.250
85.491

210

7 21
Feb

6 20 3 17
Mor
Apr

1

15 29 12 26 10 24 7 21
May
Jun
Jul
Aug

4

18
Sep

2 16 30 13 27 11 25 8 22 5 19
Oct
Nov
Dec
Jan
Feb

1996

5 19 2 16 30
Mor
Apr
1997

Commercial and Industrial Loans
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

420

All Bonks
All Bonks (left scale)1/

797.3
800-

400

804.9
804.4
804.0
804.3

Large Banks (right scale)2/
380

360

Lorge Bonks
197
“

7

21

6

20 3

17

1

15 29 12 26 10 24

7

21

4

18 2

16 30 13 27 11 25 8

22 5

19

Billions
387.8
390.5
391.8
392.4
392.1
393.3
5

19

2

340

16 30

1996
Current doto appear in the Federal Reserve Board’s H.8 release.
1/ Includes foreign-related institutions
2/ Weekly reporting, domestically chartered banks


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

Prepared by Federal Reserve Bonk of St. Louis

320

Dollar s Trade - Weighted Exchange Index
Averages of Daily Figures
1973-100

1973=100
Feb 26

-

7

21

Feb

6

20

Mar

3

17

Apr

1

15 29 12 26 10 24

Moy

Jun

Jul

1996

7

21

Aug

4

18

Sep

2

16 30 13 27 11 25

Ocl

Nov

Dec

8

22

Jon

5

19

Feb

5

19

Mor

2

16 30

Apr

1997

Current doto appear in the Federal Reserve Board's H.10 release. Dota ore 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 Federol Reserve Bonk of St. Louis

>1

os

<

OS

CO

0>

100