Full text of U.S. Financial Data : April 6, 1995

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April 6,1995

Federal
mi

U;S. Financial Data

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77/£ WEEK'S HIGHLIGHTS:
✓ 77ie composite index of leading indicators declined 0.2 percent in
February — jwsf its third decline in the last 20 months. The index
was unchanged in January.
✓ Total new factory orders fell 0.2 percent in February, following a
0.7percent increase in January. A 0.8 percent decrease in new
orders for durable goods more than offset a 0.6 percent increase
for nondurable goods.
✓ The value of new construction put in place in February declined
at a 5.3 percent annual rate, after falling at a 6.4 percent rate in
January. Measured from a year earlier, total construction spending
was up 7.7percent, paced by a 24.9percent rise in nonresidential
construction.
✓ Real gross domestic product (GDP) rose at a 5.1 percent rate in the
fourth quarter (1994). This final estimate was 0.6 percentage points
higher than the advance estimate.
✓ Real personal consumption expenditures (PCE) fell at a 0.7 percent
rate in February, the first decline since September 1994. Over the
last six months, however, real consumer spending advanced at a
2.9 percent rate, up from a 2.5 percent rate of increase over the
previous six months.
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. Sorry, no refunds.
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
Billions of Dollars

Averages ot Daily Figures

Billions of Dollars

Seasonally Adjusted

1995

Billions

Jan 18
Feb 1
462.4

2 16 2 16 30 13 27 11 25 B 22 6 20 3 17 31 14 28 12 26 9 23 7 21 4
Feb Mar
Apr May
Jun
Jul
Aug
Sep
Oct" Nc

18

1

15 1 15 29 12 26
Feb Mar
Apr

1994
Latest data plotted reserve maintenance period ending: March 29. 1995
The adjusted.moi
of reserve
in
ase is the sum _____
-....jnetary b<_________...
-,-,r accounts
Jnts of financial institutions
at Federal Reservet b
banks,
urrency in circulation (currency
pi
. , held
n - by the
c ru^',c
ond In the vaults of all depository institutions! and an
djustment
for resei
reserve requirement
iquirement ratio chani
changes. The major source of the adjusted monetary Base is Federal
-------pr
Reserve credit. Data are computed by this bank. A detailed description of the adjusted monetary base is
liable from this bank.
Recent data are preliminary.

Adjusted Monetary Baas
To the average of
two maintenance
periods ending:
8/31/94
9/28/94
10/26/94
11/23/94
1/4/95
2/1/95
3/1/95
3/29/95

Compounded annual rates of change, average of two maintenance periods ending:
3/30/94

6/22/94

8/31/94

7.3
7.2
6.9
6.7
6.2
6.7
6.7
6.5

6.3
6.1
5.9
5.3
6.1
6.2
6.0

6.1
5.7
4.8
6.1
6.3
5.9


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

9/28/94 10/26/94 11/23/94

5.3
4.4
5.9
6.2
5.8

1/4/95

2/1/95

3.9
6.0
6.3
5.8

Prepared by Federal Reserve Bank of St Louis

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

Billions of Dollars

Billions of Dollars

M1
1995

Billions

Feb 20
27
Mar 6
13
20
27

1145.5
1146.2
1147.2
1147.0
1150.9
1149.7

M1 (left scale)

TCD (right scale)

TCD

7 21 7 21
Feb

Mar

4 18 2
Apr

25 8 22 5

16 30 13 27
May

Jun

Jul

Aug

19 3
Sep

19.95

Billions

Feb 20
27
Mar 6
13
20
27

778.3
778.8
779.1
776.8
779.1
777.0

17 31 14 28 12 26 9 23 6 20
Oct

Nov

Dec

Jan

Feb

1994

6 20

3 17

Mar

Apr

1995

Latest data plotted week ending: March 27, 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)
Compounded annual rates of change, average of four weeks ending:
To the average
3/28/94 6/27/94 8/29/94 9/26/94 10/24/94 11/28/94 12/26/94 1/30/95
ending:


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

-1.0
-1.1
-0.6
-0.2
-0.6
-0.3

-1.9
-1.0
-0.5
-0.8
-0.4

-0.3
0.2
-0.4
0.0

1.1
0.0
0.4

-0.6
1

1.6
0.6
0.1
0.3
0.4
0.1
0.2

o
>

2.1
1.9
1.3
0.9
0.9
0.9
0.6
0.7

0

B/29/94
9/26/94
10/24/94
11/28/94
12/26/94
1/30/95
2/27/95
3/27/95

Prepared by Federal Reserve Bank of St Louis

3

4
Adjusted Reserves
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

114
1995

Billions

-Feb

1

101.0

Mar

1
15

103.6
102.2

110

106

102

98

94

90

I' r I

2 16 2 16 30 13 27
Feb Mar
Apr
May

22 8 20 3 17 31 14 28 12 26 9 23 7 21 4
Jun
Jul
Aug
Sep
Oct
Nov Dec

18

1

15

1

Feb

15 29 12 26
Mar

Apr

Latest data plotted two weeks ending: March 29, 1995
Adjusted reserves is the difference between adjusted monetary base and currency component of M1.

Adjusted Reserves
To the average of
two maintenance
periods ending:
S/31/94
9/28/94
10/26/94
11/23/94
1/4/95
2/1/95
3/1/95
3/29/95

Compounded annual rates of change, average of two maintenance periods endina:
3/30/94

-0.2
0.6
-0.3
-2.2
-2.8
-1.8
0.0
-2.0


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

6/22/94

-1.8
-2.8
-5.1
-5.3
-3.7
-1.1
-3.6

8/31/94

-0.6
-5.7
-5.8
-3.4
0.2
-3.3

9/28/94 10/26/94 11/23/94

1/4/95

2/1/95

-10.8
-8.7
-5.2
-0.7
-4.6

15.0
0.4

-3.2

-9.7
-5.0
0.6
-4.3

-0.5
5.6
-1.7

Prepared by Federal Reserve Bank of St. Louis

90

Money Multiplier V
Averages of Daily Figures
Seasonally Adjusted

Ratio

3.2

3.0

.

Ratio

Compounded annual
rates of change,
average of the four
weeks ending
March 27, 1995 from
the four weeks ending:
Mar 28. 1994 -5.3
Jun 20, 1994 -5.2
Sep 26. 1994 -6.0
Oct 24, 1994 -5.7
Nov 21, 1994 -5.2
Jan 2. 1995 -6.7
Jc n 30, 1995 5.8

I

I

1995

Ratio

Jan 16
30

2.507
2.497

27
Mar 1 3
27

2.4" 9
2.47 8
2.4E 0

2.8

2.0

2.8

3.2

2.S

7 21
Feb

7 21 4 18 2 16 30 13 27 11 25 8 22
Mar
Apr
May Jun
Jul
Aug
1994

5 19 3 17 31 14 28 12 26 9 23
Sep
Oct
Nov
Dec
Jan

6 20 6 20 3 17
Feb Mar Apr
1995

2.8

Latest data plotted two weeks ending: March 27, 1995

Currency Component of M12/
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

325

365

355

Billions of Dollars

375

------- 1---------- 1-----------1---------Compounded annual
rates of change,
average of the four
weeks ending
March 27, 1995 from
the four weeks ending:
Mar 28. 1994 9.1
Jun 27, 1994 8.9
Sep 26. 1994 9.0
Oct 24. 1994 R.9
Nc v 28. 1994 8.4
De c 26, 1994 9.2
Jc n 30, 1995 8.1

365

355

385

385
1995

Feb 2 0 358 8
2 7 358 B
Mar 6 359.6
13 361.7
20 363.3
27 364.1
______ l____

335

325

Billions

7 21 7 21 8 18
Feb Mar
Apr

2

It 3D 13 27 M 25
May
Jun
Jul

8 22 5 19
Aug Sep

3 17 31 18 28 1! 26
Oct
Nov Dec

1994

) 23
Jan

6 20 f 20
Feb Mar

3 17
Apr

1995

Latest data plotted week ending: March 27, 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

335

325

6

Yields on Selected Securities
Percent

Percent

Averages of Daily Figures

Prime Bank

Municipal Bond*

Commercial
Paper

Feb

Mar

15 29 13 27 10 24 8 22
Apr
May
Jun
Jul

Aug

16 30 14 28 11 25 9 23
Sep Oct
Nov Dec

Jan

17 3 17 31 14 28
Feb Mar
Apr

1994

1995

Latest data plotted are averages of rates available for the week ending: April 7. 1995

1995

30—Day
Commercial
Paper

90-Day

5.75
5.82
5.94
6.08
6.03
6.07
6.03
6.05
6.08
6.07
6.05
6.08
6.10

Jan

13
20
27
Feb
3
10
17
24
Mar
3
10
17
24
31
Apr 7 *

CDs

90-Day
Bankers'
Acceptances

Corporate
Aaa Bonds

Corporate
Baa Bonds

Municipal
Bonds **

6.20
6.22
6.22
6.22
6.16
6.17
6.11
6.13
6.20
6.14
6.12
6.15
6.16

6.09
6.12
6.10
6.11
6.05
6.05
6.00
6.03
6.08
6.03
6.02
6.05
6.05

8.46
8.44
8.49
8.33
8.28
8.26
8.23
8.17
8.22
8.04
8.10
8.08
8.05

9.10
9.06
9.10
8.92
8.87
8.85
8.82
8.76
8.81
8.62
8.69
8.65
8.63

6.53
6.44
6.49
6.40
6.18
6.18
6.11
6.08
6.18
6.06
6.09
6.07
N.A.

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


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

Prepared by Federal Reserve Bank of St. Louis

Selected Interest Rates
Averages of Daily Figures

5-Year
Treasury Securfti

Federal
Funds

3—Month
Treasury

Discount Rate

4 18 4 18 1 15 2) 13 27 10 24
Feb Mar
Apr
May Jun

8 22 5 19 2 16 30 14 28 11 25
Jul
Aug
Sep
Oct
Nov

9 23
Dec

6 20
Jan

1994
Latest data plotted are averages of rates available for the week ending: April 7, 1995

1995

Jan 13
27
Feb
3
17
24
Mar 3

24
31
Apr
7 *

Federal
Funds **
5.53
5.45
5.42
5.63
5.95
5.93
5.94
5.88
5.93
5.94
5.97
6.06
6.20

3 17 3 17 31 14 21
Feb Mar
Apr
1995

3—Month
Treasury
Bill

1—Year
Treasury
Bill

5—Year
Treasury
Securities

10—Year
Treasury

Long-Term
Treasury

5.66
5.70
5.77
5.82
5.79
5.75
5.72
5.74
5.76
5.75
5.72
5.69
5.71

6.66
6.58
6.50
6.43
6.37
6.29
6.15
6.07
6.14
6.00
5.97
5.98
6.02

7.80
7.73
7.74
7.54
7.47
7.40
7.23
7.10
7.18
6.95
7.01
7.01
6.9B

7.80
7.74
7.78
7.62
7.56
7.48
7.36
7.27
7.35
7.11
7.16
7.15
7.13

7.95
7.90
7.78
7.72
7.53
7.61
7.47
7.42

which are computed by this bank. Treasury bill yields are on a discount basis.y
* 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

3670

I

Billions of Dollars

2545

I
M2

1995

Billions

Feb 20 3619.2
27 3621.0

3645

2520

13 3 625.5
20 3 638.0
27 3 640.2
M2 (left sc ale)

2495

3620

/

* -*»

3595

/
Ts

vN

"

/

/

*\

V i

t

3570

.J

/

r\
/

\

/
\

Nor -M1 k\2
1995
Billio ns

\/

Feb 20
27
6
13
20
27

Mar

3595

7 21 7 21 4 18 2 16 JO 13 17 11 25 8 !!
Feb Mar
Apr
May
Jun
Jul
Aug
1994

2470

*

4on-M' M2 (r‘ ght sea <0

*

f
/
/
i_____

5 19 3 17 31 H 2! 12 20
Sep
Oct
Nov
Dec

2473.7
2474.8
2470.5
2478.5
2487.1
2490.5

9 23 6 20 8 20
Jan
Feb Mar
1995

2445

3 17
Apr

Latest data plotted week ending: March 27, 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 3/28/94 6/27/94 8/29/94 9/26/94 10/24/94 11/28/94 12/26/94 1/30/95
ending:
8/29/94
9/26/94
10/24/94
11/28/94
12/26/94
1/30/95
2/27/95
3/27/95

1.1
0.9
0.6
0.5
0.7
0.9
0.8
0.9


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

1.0
0.6
0.4
0.6
1.0
0.8
1.0

-0.6
-0.5
0.1
0.7
0.5
0.8

-0.6
0.2
1.0
0.6
1.0

0.7
1.5
0.9
1.3

2.6
1.4
1.8

1.2
1.7

0.9

Prepared by Federal Reserve Bank of St. Louis

Savings and Small Time Deposits
Averages of Daily Figures

Billions of Dollars

340

1

I
Sm all Time
199Billions

Savin gs
1995 e illions

390
200

“Feb 20
27
Mar 6
13
—
20
27

1
1 05.7
1 01.4
1C)97.8
1f
1C 92.5

Feb

0

Mar
•

27

6
13
2O
27

857.2
862.5
868.9
875.0
B79 .3 —
882 .6

Savin; a Dapo alta(lef scale'

220

915

180
HO

*

✓

✓

✓

875

✓

835

Sm ill Time (right scale)

100
1000

1035

795
T T ' 1 ' T7 1 '

7 21
Feb

1 i ' r ~nr ■ i

7 21 4 18 2 16 30 13 27 11 2S
Mar Apr
May
Jun
Jul
1994

* 22
Aug

5 1! 3 17 31 14 21 1! 26 ! 23
Sep
Oct
Nov Dec Jan

Note: Savings deposits are at all depository institutions.

6 20 6 2D 3 17
Feb Mar
Apr
1995

All Depository Institutions
Averages of Daily Figures, Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Large Time
1995 Billions
Feb 20
27
Mar 6
13
20
27

Money Market

1995

372.1
377.0 .
377.7
376.7
379.1
378.5

Feb 20
27
Mar 6
13
20
27

Billions

390.7
392.3 __
387.6
391.6
390.4
393.4

Money Market

Large Time

Feb

Mar

Apr

May

Jun

Jul
1994

14 28 12 25 9 23

Aug

6

20 6 20 3 17
Feb Mar
Apr

Latest data plotted week ending: March 27. 1995
1/ Large time deposits are those issued in denominations of $100,000 or more.
Money market funds are general purpose and broker/dealer.
D
.. ’ .
, „
r K
Prepared by Federal Reserve Bank of St. Louis


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

9

755

10
Total Borrowings
From Federal Reserve Banks
Averages of Daily Figures

Billions of Dollars

1995
Mar

1

Apr

5

Billions of Dollars

Billions
0.055
0.054
0.064
0.072
0.086
0.082

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

22 6 20 3 17 31 14 28 12 26 S 23 7 21 4 18 1 15 1 15 29 12 26
Jul
Aug
Sep
Oct
Nov
Dec
Feb Mar
Apr
Jun

1994
~
A
1995
Borrowings include seasonal, adjustment and extended credit; extended credit was $19 million in the week ending
January 25, 1995, $1 million in the week ending July 20, 1994 and was zero in the other weeks shown.

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

Billions of Dollars

3425
3375
3325

---------1----------Bank Cr<idit
1995 fiil ions
~ Feb 15 33 59.3
22 33 66.2
Mar 1 33 81.2
8 33 74.4

1/
Billions of Dollars

2500
2450
/

2/

dit (lef ; scale'

Be

✓

/

2400

f

22 3385.7

2350

3275
_ X*

3225

-

2300

S"
/

Loan s<ScLea ses
199;
Billiens

*

3175

A.,

Apr

May

Jun

Jul

m

16 30 13 27 11 25 8 22 6 20 3

Feb Mar

j

2

o

2 16

T>

cm

o

3125
3075

Feb 15
22
Mar 1
8
15
22

>
0

17 31 14 28 12 26 9 23 7 21 4

Aug

Sep

Oct

1994
Latest Wednesday data plotted : March 22, 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

Nov

Dec

18
Jan

1

,

l

15

1

Feb

2424.4
2426.3
2441.8
2437.1
2442.1
2447.7

2250
2200

.

15 29 12 26
Mar

Apr

1995

Prepared by Federal Reserve Bank of St. Louis

2150

Commercial Paper of Nonfinancial Companies
Billions of Dollars

Billions of Dollars

______ ______ Not Seasonally Adjusted

Feb 22 167.554175.422

Feb

Mar

Apr

May

Jun

Jul

Aug

1994

Sep

Oct

Nov

15

Dec

Feb

'

1

15 28

Mar

12 2i

Apr

Latest data plotted week ending: March 29, 1995

Commercial and Industrial Loans

Billions of Dollars

(IS

1

Billions of Dollars
1

350

All Banks
(65 -

(45

1995

Billions

Feb 15
22
Mar 1
8
15
22

670.8
671.0
676.3
671.9
675.7
675.8
I

//

N. ^ ^

330

/•' i
<

\e)Z//
L □rge Beinks (n ght see

—

310

»/

f
»/

290

i 1 i ■ i ' i i i ' i >

Lar<ge Ban ks
1995
Billioos
Feb 1 5 328 .1
2
Mar 1 331.8
8 329.8
1 5 332.0
2 2 331.9
I
■ 1 « —r~T‘ '■ I1' 1 <-\

Nov

Feb

(05
Al Banka (left s cale)^'

565
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

1994

Latest Wednesday data plotted : March 22, 1995
Current data 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

Dec

Jan

J

Mar

1995

Apr

Prepared by Federal Reserve Bank of St. Louis

11

270

250

Dollar’s Trade-Weighted Exchange Index
1973=100

Averages of Daily Figures

1995 1973=100

Apr

2 16 2 16 30 13 27 11 25 8 22 6 20 3 17 31 14 28 12 26 9 23 7 21
Feb

Mar

Apr

May

Jun

Jul
Aug
1994

Sep

Oct

Nov

Dec

4 18 1
Jan

15
Feb

5

1 15 29 12 26
Mar
1995

Apr

Latest data plotted week ending: April 5, 1995
Current data appear in the Federal Reserve Board's hi. 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

w
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b-i p£
in
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