Full text of U.S. Financial Data : August 15, 1996

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

August 15,199'

Federal Reserve Bank

AUG 2 0 W96

U.S. Fmancial’Data

TIIE
DEKVI

a kisekm;

5 HAN K of
~ STlJlHlS

•hiwi mwimi

THE WEEK'S HIGHLIGHTS:
*/ Industrial production increased at a 1.7 percent annual rate in
July, after surging at an 8 percent rate from March to June. July’s
production was curtailed in part by a sharp drop in utilities output.
✓ Following a 2 percent rise in the first quarter, output per hour
(productivity) in the business sector slowed to a 0.4 percent annual
rate in the second quarter, as hours worked rose at their fastest
pace in two years.
✓ The consumer price index (CPI) rose at a 3.1 percent annual rate
in July, down slightly from the 3.5 percent pace that prevailed during
the first half of 1996. Consumer prices are up 2.9 percent since
July 1995.
✓ Producer prices for finished goods (PPI) remained unchanged in
July. After rising at a 3.9 percent annual rate between October 1995
and April 1996, the PPI has since increased at a 0.3 percent rate.
✓ Retail sales advanced at a 0.8 percent annual rate in July after
falling at a 6.4 percent rate in June. Sales at automotive dealers
fell for the third time in the past four months; however, excluding
auto sales, total sales have risen for five of the past six months.
Retail sales figures are not adjusted for inflation.

All data are aeasonally

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
bulletin board at (314) 621-1824 or internet World Wide Web server at http://www.stls.fib.org/fred.

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

2

Adjusted Monetary Base
Averages of Doily Figures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Billions
474.7
474.7
477.1
477.6
478.6
479.1

7

21

5

19 2

16 30 13 27 11 25 8 22 6 20 3
Sep
Oct

17 31 14 28 13 27 10 24

Aug

Apr

22 5
Moy

19 3

17 31 14 28

Jun

The adjusted monetary base is the sum of reserve accounts of financial institutions ot Federal Reserve bonks,
currency in circulation (currency held by the public and in the vaults of all depository institutions) ond an
adjustment for reserve requirement rotio changes. The major source of the adjusted monetory base is Federol
Reserve credit. Data ore computed by this bonk. A detailed description of the adjusted monetory base is
available from this bonk.
Recent data are preliminary.

Adjusted Monetary Base
_
,
To the average of
two mointenonce
periods ending:

Compounded onnuol rotes of change, averoge of two maintenance periods endinq:
4
,
r
*
8/16/95 11/8/95 1/17/96 2/14/96 3/13/96 4/10/96
5/8/96 6/19/96

1/17/96

1.5

2/14/96

0.8

3/13/96

1.2

1.4

4/10/96

1.8

2.3

2.3

5/8/96

0.9

0.9

0.1

1.2

0.0

6/19/96

1.6

1.8

1.6

2.7

2.4

7/17/96

2.1

2.4

2.5

3.6

3.5

2.7

6.4

8/14/96

2.2

2.6

2.7

3.6

3.6

3.0

5.8


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

0.7
0.3
5.1

0.8

Prepared by Federol Reserve Bonk of St. Louis

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

Billions of Dollars

Billions of Dollars

Billions

1160Aug

5

1106.0
1102.6
1107.1
1111.3
1108.0

Aug

Billions
728.9
715.1
712.5
715.9
719.3
715.3

5

Ml (left scole)

1120-

TCD (right scale)

.-..f

15 29 12 26
Aug

Sep

Oct

Nov

Oec

Feb

Mar

Apr

May

Jun

Jul

Aug

1996
Ml is the sum of currency held by the nonbank public, demand deposits, other checkoble deposits and travelers
checks. Total checkoble deposits is the sum of demand deposits and other checkoble deposits at depository
institutions. Current doto appear in the Federal Reserve Board's H.6 release.

Money Stock (M1)
Compounded annuol rates of chonge, overage of four weeks ending:
To the average
of four weeks
ending:
1/8/96

8/7/95

11/6/95

1/8/96

2/5/96

3/4/96

4/8/96

5/6/96

6/3/96

-4.5

2/5/96

-4.6

-4.6

3/4/96

-3.9

-3.3

4/8/96

-2.3

-0.9

1.6

5/6/96

-2.8

-1.8

-0.5

1.0

1.0

6/3/96

-2.9

-2.2

-1.3

-0.3

-0.7

-5.8

7/8/96

-2.9

-2.2

-1.5

-0.8

-1.2

-4.6

8/5/96

-3.3

-2.9

-2.5

-2.0

-2.5

-5.4


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

-2.3
4.8

Prepared by Federal Reserve Bank of St. Louis

3

4

Adjusted Reserves
Seasonally Adjusted
Billions of Dollars

Billions of Oollors
May 22
Jun 5
Jul

7

21

3

5

Billions
97.4
96.8
95.9
96.7
95.8
95.5

16 30 13 27 11 25 8 22 6 20 3

19 2

Aug

Sep

17 31 14 28 13 27 10 24

Oct

22 5
Moy

19 3

17 31 14 28

Jun

Adjusted reserves is the difference between the adjusted monetary base and the currency component of Ml.

Adjusted Reserves
Compounded onnuol rotes of chonge, overoge of two maintenance periods ending:
To the overoge of
two maintenance
periods ending:

6/2/95 10/25/95

1/3/96

1/31/96

2/28/96

3/27/96

4/24/96

1/3/96

-6.5

1/31/96

-6.5

-8.7

2/28/96

-4.6

-5.1

3/27/96

-3.0

-2.6

3.6

9.0

4/24/96

-4.5

-4.8

-1.7

0.0

-3.9

6/5/96

-3.9

-3.9

-1.2

0.0

-2.3

-6.7

7/3/96

-4.4

-4.6

-2.6

-1.9

-4.1

-7.7

-4.2

7/31/96

-4.7

-4.9

-3.4

-2.9

-4.8

-7.7

-5.3

6/5/96


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

0.7

-9.0

Prepored by Federal Reserve Bonk of St. Louis

Money Multiplier
Averages of Daily Figures
Seasonally Adjusted

Ratio

3.0

2.8-

Ratio

3.0

Compounded annuol rotes
of chonge. overoge of
the four weeks ending
July 29. 1996, from
the four weeks ending:
J u I 31.
Jon
Mar

May 20
Jun
3

2.8

5. 1

-

29 ,
11.

2.318

-5 . 1
-6.3
1 996

-8.

2.355
2.356
2.353
2.340

1

- 1 0!3
-10.3

2.6

2.4

3

17 31 14 28 1 1 25
Sep

9 23 6 20 4

18

15 29 12 28 1 1 25 8 22 6 20

Oct

Apr

1995
Ratio of Ml to adjusted monetary base.

Moy

15 29 12 26
Jun

1996

Currency Component of M1
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

380-

Billions of Dollars

Compounded annuol rotes
of chonge. overage of
the four weeks ending
August 5. 1996. from
the four weeks ending:
Aug
7. 1995
4.
Nov
6. 1995
4.
Feb
5. 1996
5.
Mar
4. 1996
6.
Apr
8. 1996
5.
Moy
6. 1996
7.
Jun
3.
1996
8.

Aug

5

Billions
380.4
382.2
381.5
382.7
383.6
384.2

15 29 12 26
Sep

Oct

Moy

1995
Current data oppeor in the Federol Reserve Board's H.6 releose.


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

Jun

1996
Prepared by Federol Reserve Bonk of St. Louis

5

2.2

6

Yields on Selected Securities
Averages of Daily Figures
Percent

Percent 10.0

9.0

Prime Rate

Corporate
Aoo Bonds
7.0

6.0

Municipol Bonds
5.0

4.0
2

16 30 14 28 11 25

8 22 6 20 3 17

15 29 12 26 9

23

8 22 5

19
Apr

1995

1996
Moy 24
31
Jun
7
14
21
28
Jul
5
12
19
26
Aug
2
9
16

3

17 31

14 28 12 26

9

23

May

1996

30-Day
Commercial
Paper

90-Day
CDs

90-Day
Bonkers*
Acceptances

Corporate
Aao Bonds

Corporate
Boo Bonds

5.36
5.38
5.42
5.43
5.46
5.50
5.49
5.45
5.44
5.40
5.43
5.39
5.38

5.35
5.36
5.42
5.48
5.47
5.49
5.49
5.57
5.54
5.51
5.52
5.41
5.39

5.27
5.30
5.34
5.40
5.39
5.40
5.43
5.47
5.45
5.44
5.44
5.33
5.31

7.53
7.61
7.67
7.78
7.74
7.66
7.62
7.73
7.61
7.62
7.55
7.35
7.34

8.20
8.27
8.34
8.47
8.44
8.36
8.32
8.42
8.32
8.34
C.27
8.08
8.07

Municipal
Bonds ••
5.87
5.94
5.94
6.12
6.06
5.97
5.94
6.00
5.88
5.86
5.79
5.67
N.A.

Current data ore from the Federal Reserve Board's H.15 release, and ore overoges of rotes ovoiloble for the
week ending on August 16, 1996 .
•• Bond Buyer's Average Index of 20 municipal bonds. Thursdoy doto
N A - Not Available
^
_ „
„
„
.„
Prepared by Federol Reserve Bonk of St. Louis


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

Selected Interest Rates
Averages of Daily Figures
Percent

Percent

10-Year
Treasury Securities

-

6.0

Federal
Funds Rate

Discount Rate

5.0-

- 5.0

3-Month
Treasury Bill

2

16 30 14 20 11 25 8 22

6

20

3

17

15 29 12 26

8

22

5

19
Apr

1996
May 24
31
Jun
7
14
21
28
Jul
5
12
19
26
Aug
2
9
16 •

Federal
Funds ••
5.22
5.19
5.33
5.24
5.45
5.21
5.53
5.26
5.23
5.25
5.53
5.38
5.10

3

17 31 14 28 12 26

9

23

May

3-Month
Treasury
Bill

1 -Year
Treasury
Bill

5-Yeor
Treasury
Securities

10-Year
Treasury
Securities

Long-Term
Treasury
Securities

5.04
5.04
5.09
5.11
5.09
5.09
5.13
5.15
5.13
5.16
5.15
5.03
5.12

5.27
5.39
5.46
5.52
5.48
5.47
5.49
5.57
5.47
5.53
5.48
5.30
5.29

6.41
6.55
6.63
6.77
6.73
6.63
6.60
6.72
6.59
6.62
6.52
6.28
6.30

6.65
6.77
6.85
6.99
6.95
6.86
6.85
6.95
6.81
6.85
6.76
6.54
6.55

6.93
7.02
7.08
7.23
7.18
7.08
7.04
7.16
7.04
7.05
6.96
6.77
6.79

Except for long-term Treasury securities, which ore computed by this Bonk, current doto appear in the Federal
Reserve Board's H.15 release.
• Averages of rates availoble
•• Seven-doy overages for week ending two days earlier than dote shown
Prepored by Federol Reserve Bonk of St. Louis


http://fraser.stlouisfed.org
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

Aug

5

Billions of Dollars

Billions
3749.4
3753.9
3747.5
3754.0
3756.3
3766.2

M2 (left scale)
■2600

3700-

■2500
Non-Mi M2 (right scale)
Non-M1 M2

Aug

1 14 28 II 25 9 23 6 20 4
Aug

Sep

18

I

15 29 12 26 11 25 8 22
Apr

Oct

6 20 3
May

Billions
2631.4
2647.9
2644.9
2646.9
2645.0
2658.2

5

17

1

.

15 29 12 26

Jun

M2 is the sum of M1, savings (including money market deposit accounts), smoll time deposits and retoil money
funds. Current dato appeor in the Federol Reserve Boord's H.6 releose.

Money Stock (M2)
Compounded annual rates of change, overage of four weeks ending:
To the averoge
of four weeks
ending:

8/7/95

11/6/95

1/8/96

2/5/96

3/4/96

4/8/96

5/6/96

1/8/96

4.5

2/5/96

4.6

5.2

3/4/96

5.0

5.8

6.3

4/8/96

5.6

6.6

7.5

5/6/96

5.0

5.4

5.6

5.7

4.9

6/3/96

4.5

4.7

4.5

4.4

3.4

-0.2

7/8/96

4.6

4.8

4.6

4.5

3.8

1.7

2.8

8/5/96

4.4

4.5

4.2

4.1

3.5

1.8

2.5

6/3/96


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

8.6

3.6

Prepored by Federol Reserve Bonk of St. Louis

Savings and Small Time Deposits
Averages of Daily Figures
1360

1

i

—

■

----------- 1----------- !---------

Savings
1996

1320- Jul

1280

8
15
22
29

1

1055

Small Time

Billion

996
Jul

1207.(
1218.'
1215.1
1212.
1210/

* ug

Srrtall Tinne (rig ht see.le)

5

1015

9 32.1

1

8
15
22

Billions
928.3
928.9
929.5
930.2

975

[

_____
—

935

1200

895

—
So zings 1 )eposi ts (left scale0
.
:
_____ L—

855

I
1080

T» i • i 1 i
Aug

nr *

Sep

11

Oct

■i ' i ' r» i ■
Nov

..............

Dec

775
Apr

Sovings deposits ond small time deposits ore at all depository institutions.

May

Aug

1996

Large Time Deposits and Retail Money Funds
Averages of Daily Figures
Large Time
1996
Billions
Jul
1
447.1
8
448.9 ..........
15
452.2
22
454.9
29
452.6
5
Aug
452.5

Retail Money
1996
Billions
Jul
1
496.1
8
500.8
15
499.8
22
503.9
29
503.1
^ug
5
503.8

530
R etail K/ oney

490

450

Loreje Tim e

370 rr'l I

' l '

» !' f |

1 ' l r

n i »
18

Aug

Sep

Oct

Nov

15 29 12 26

Dec

Jon
Feb
Mor
Apr
May
Jul
Aug
1995
1996
Large time deposits and retoil money funds ore ot oil despository institutions. Large time deposits ore those
'
C d®"orn,nal,on* of % 100,000 or more. Retoil money funds were originolly colled general purpose
ond broker/dealer money market funds.
v
w w
Prepared by Federal Reserve Bonk of St. Louis


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

9

10

Total Borrowings
From Federol Reserve Banks
Averages of Daily Figures

Billions of Dollars

Billions of Dollars

Billions
Jul

10

Aug

7

i.o-

7 21

5

0.305

19 2

16 30 13 27 11 25 8 22 6 20 3
Aug
Sep
Oct

17 31 14 28 13 27 10 24 8 22 5

1995
Borrowings include seasonal, adjustment and extended credit.

19 3

17 31 14 28

1996

Bank Loans and Credit

All Commercial Banks in the United States ^
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Bonk Credit
Billions
Jun 26

3672.4

Jul

3667.5
3668.9
3677.2
3675.3
3666.1

3

Bonk Credit (left scale)2/

Loans&Leases
Billions
2692.8
2692.5
2691.2
2698.0
2700.0
2698.3

Loons and Leases (right scale)

7

21

5

19

2

16 30 13 27 II 23

Sep

8

22

6

20

3

17 31

Oct

1995
Current dato appear in the Federol Reserve Board's H.8 release.
1/ includes foreign-related institutions
2/ Includes loons and leoses and securities


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

Jun 26

14 28 13 27 10 24

Apr

8

22

5

19

3

17 31

14 28'

Moy

1996

Prepared by Federol Reserve Bonk of St. Louis

Commercial Paper of Nonfinancial Companies
Not Seasonally Adjusted

Billions of Dollars
Jul

3

Aug

Billions of Dollars

Billions
199.629
196.964
199.933
197.350
196.430
198.200

7

200-

-

200

- 180

7

21

5

19

2

16 30 13 27 11

25

3

17 31

14 28 13 27 10 24

22

5

19

3

17 31

14 28

1996

Commercial and Industrial Loans
Seasonally Adjusted

Billions of Dollars

Billions of Dollors

All Banks
Billions
740.4
739.9
738.0
742.4
742.6
743.3

Jun 26
Jul
3

- 400

All Bonks (left scale)1/

700-

- 360

Lorge Bonks (right scale)^/
Lorge Bonks
Jun 26

Billions
361.8
360.0
361.5
361.5

7

21

5

19

2

16 30

25

8

22

6

20

1995

1996

Current data appear in the Federal Reserve Boord's H.8 releose.
1/ Includes foreign-related institutions
2/ Weekly reporting, domesticolly chartered banks


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

Prepared by Federal Reserve Bank of St. Louis

11

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

JU 10

-100

100-

7

21

5

19

2

16 30 13 27 11 25

1995

3

17 31

14 28 13 27 10 24

8

22

5

19

3

17 31

14 28

1996

Current data appear in the Federal Reserve Boord's H.10 release. Data ore weighted overages 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

Prepored by Federol Reserve Bonk of St. Louis

x
as
<
as

CD

J
0)