Full text of U.S. Financial Data : December 1, 1994

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

Si ll IE
•er 1, 1994
Decei

*ARY

I HE
I EDI ItVI.

j reserve
HANK of

SI.KU IS

nrr 0 ?= 1994

THE WEEK'S HIGHLIGHTS:
✓ According to the preliminary estimate, real GDP increased at a
3.9 percent annual rate in the third quarter, 0.5 percentage points
above last month’s advance estimate. Inventory investment declined
in the third quarter as real final sales (GDP less inventory accumula­
tion) rose at a 4.2 percent rate.
✓ Real disposable personal income rose at a strong 16.4 percent rate
in October. Real personal consumption expenditures (PCE) also
posted a strong increase, rising at a 7 percent rate. Data revisions
indicate that real PCE rose at a 3.1 percent rate over the JuneSeptember period, up from the original 2.6 percent rate.
✓ The Conference Board reported that its index of consumer confidence
jumped 12.2 percentage points in October to 101.3 (1985=100).
This is the largest monthly increase in nearly two years.
t/ The National Association of Realtors reported that existing single­
family home sales rose 0.5 percent in October, the first increase in
two months. On a year-to-date basis, existing home sales are up
7.3 percent over the same period last year.

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 ot Dairy f igures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Billions
Sep 14

450.5

Oct 12

451.7
453.5
451.3
455.3

Nov

6

9

20 3 17 1
Oct
Nov
1993

15 29 12 2S
Dec
Jan

9 23
Feb

S 23 6 20
Mar Apr

4 18 1 15 29 13 27
May
Jun
Jul
1994

10 24
Aug

7 21
Sep

5 19
Oct

2 10 31 14 21
Nov
Dec

Latest data plotted reserve maintenance period ending: November 23, 1994
The adjusted monetary base is the sum of reserve accounts of financial institutigns at Federal Reserve banks,
currency in circulation (currency held by the public and in the vaults of ail 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:
4/27/94
5/25/94
6/22/94
7/20/94
8/17/94
9/28/94
10/26/94
11/23/94

Compounded annual rates of change, average of two maintenance periods ending:
11/24/93 2/16/94 4/27/94 5/25/94 6/22/94 7/20/94 8/17/94 9/28/94

10.5
9.4
9.4
9.3
9.0
8.6
8.2
7.7


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

6.5
7.0
7.3
7.2
7.0
6.7
6.2

6.2
7.0
7.0
6.7
6.3
5.8

8.7
8.1
7.4
6.8
6.1

7.7
7.0
6.4
5.6

6.3
5.8
4.9

5.3
4.4

3.2

Prepared by Federal Reserve Bank of St. Louis

Money Stock (Ml) and Total Checkable Deposits
Averages ot Daily Hgures
Seasonally Adjusted

Billions of Dollars

1150

-

1994

Billions

Oct 17
24
31
Nov 7
14
21

1148.4
1149.6
11
1143.8
1143.6
1153.0

Billions of Dollars

M1 (left scale)

TCD (right scale)

TCD
1994 Billions
Oct 17
24
31
Nov 7
14
21
4

18 1 15 29 13 27 10 24
Oct
Nov
Dec
Jan
1993

7 21
Feb

7 21
Mar

4

18 2 16 30 13 27 11 25
Apr
May
Jun
Jul
1994

8 22
Aug

5

790.9
791.0
783.8
783.2
782.9
791.8

19 3 17 31 14 28 12 26
Sep
Oct
Nov
Dec

Latest data plotted week ending: November 21, 1994
Current data appear in the Federal Reserve Board's H.6 release.
Ml 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 (M l)
T

..
Compounded annual rates of change, average of four weeks ending:
10 tne average ^/22/g.j 2/2l/94
4/18/94 5/23/94 6/20/94 7/18/94 8/22/94 9/19/94
of four weeks
ending:
4/18/94
5/23/94
6/20/94
7/18/94
8/22/94
9/19/94
10/24/94
11/21/94

5.2
3.8
3.9
3.9
3.7
3.4
2.7
2.3


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

1.6
2.3
2.5
2.5
2.3
1.6
1.0

0.9
1.8
1.9
1.7
0.9
0.3

4.2
3.5
2.9
1.6
0.8

3.0
2.3
0.9
0.1

1.7
0.1
-0.7

Prepared by Federal Reserve Bank of St. Louis

3

4
Adjusted Reserves
Billions of Dollars

Seasonally Adjusted

Billions of Dollars

114
1994

Billions

Sop 14
28
Oct 12
26
Nov 9
23

103.8
104.1 ■
103.4
103.7
99.0
102.7

110

106

102

98

94

6

20
Oct

3

17 I 15 29 12 21
Nov
Dec
Jan
1993

9 23
Feb

9 23
Mar

6

20
Apr

4

18 1 15 29 13 27 10 24
May
Jun
Jul
Aug
1994

7 21
Sep

5

19 2 If 30 14 2!
Oct
Nov
Dec

Latest data plotted two weeks ending: November 23, 1994
Adjusted reserves is the difference between adjusted monetary base and currency component of M1.

Adjusted Reserves
To the average of

Compounded annual rates of change, average of two maintenance periods ending:
11/24/93 2/16/94 4/27/94 5/25/94 6/22/94 7/20/94 8/17/94 9/26/94

periods ending:
4/27/94
5/25/94
6/22/94
7/20/94
B/17/94
9/28/94
10/26/94
11/23/94

6.9
3.0
3.3
3.0
2.8
2.8
2.1
-0.7


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

-6.9
-4.3
-3.3
-2.6
-1.7
-2.1
-5.2

-6.1
-3.7
-2.5
-1.1
-1.7
-5.9

3.2
2.5
2.5
1.2
-4.2

1.3
1.8
0.3
-5.8

2.0
0.0
-7.3

-0.5
-9.7

-17.9

Prepared by Federal Reserve Bank of St. Louis

90

Money Multiplier1/
Averages of Daily Figures
Seasonally Adjusted

Ratio

3.2

,

3.0

Ratio

I---------- 1----------Compounded annu 0,
rates of change,
average of the fou
weeks ending
November 21, 1994 from
the four weeks end ing: _
Nov
Feb
May
Jun
Jul
Aug
bep

2.8

22,
14,
23,
20,
18.
15,

1993
1994
1994
1994
1994
1994

-S
-4
H
-5

.1
.8
.9
.2
.5
-6 .5
.1

l

I

1994

Ratio

Sep 12
26

2.560
2.551

24
7
21

2.5 34
2.5 36
2.5 22

Nov

3.2

3.0

2.8

2.0

2.0

2.0

0

I
II
Oct

1

IS !! 11 27 11 20 7 21 7 21 0 H 1 IS 10 11 27 II 25
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
1993
1994
Latest data plotted two weeks ending: November 21, 1994

n 1 i ■ i * i ■
' i i
1 1 1 1 ' 1 '
I 22 S 19 1 17 31 10 21 12 2S
Auq
Sep
Oct
Nov
Dec

2.0

Currency Component of Ml2/
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

309

309

300

■

|---------- 1----------Compounded annu al
rates of change,
average of the fou
weeks ending
November 21, 1994
the four weeks en< ing:
Nov 22. 1993 1C .5
Feb 21, 1994
.9
May 23, 1994
.3
Jun 20. 1994
.3
Jul 18, 994
.0
Aug 22,
994
-1
Sef 19,
994
.9

Billions of Dollars

300

300

-

300

330

330

320

1994

Billiem

Oct 1 7
24
31
7
14
21

349 .2
350 .4
352.3
352.3
352.4
352.9

Nov

310

i

1
Oct

30
Nov
1993

Dec

Jan

Feb

Mar

Apr

May

13 27 11 25
Jun
Jul
1994

S 22 5 19
Aug Sep

-

1

3 17 31 14 28 12 26
Oct
Nov
Dec

Latest data plotted week ending: November 21, 1994
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

320

310

6

Yields on Selected Securities
Percent

Percent

Averages of Daily Figures

-Ana Bonds-

1

IS 2) 12 26 10 24 7 21 i 18
Oct
Nov
Dec Jan Feb
1993

4 18 1 IS 29 13 27
Mar
Apr
May

10 24 8 22 5 19 2 16 30 14 28
Jun
Jul
Aug
Sep
Oct
1994

11 2S
Nov

9 23
Dec

Latest data plotted are averages of rates available for the week ending: December 2. 1994

1994

30—Day
Commercial
Paper

90-Day
CDs

90-Day
Bankers'
Acceptances

4.82
4.87
4.93
5.01
5.08
5.08
4.96
4.98
5.05
5.24
5.50
5.60
5.63

4.89
4.96
5.08
5.21
5.51
5.49
5.47
5.56
5.59
5.72
5.80
5.87
5.98

4.81
4.88
5.01
5.13
5.42
5.40
5.38
5.45
5.52
5.63
5.74
5.77
5.91

Sep

9
16
23
30
Oct 7
14
21
2B
Nov 4
11
18
25
Dec
2 *

Corporate
Aaa Bonds
8.22
8.32
8.41
8.48
8.57
8.50
8.54
8.65
8.68
8.74
8.70
8.63
8.61

Corporate
Baa Bonds

Municipal
Bonds **

8.88
8.97
9.04
9.10
9.20
9.14
9.18
9.29
9.32
9.37
9.33
9.26
9.24

6.18
6.24
6.37
6.43
6.50
6.44
6.49
6.64
6.83
6.96
7.06
7.03
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


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Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis

Selected Interest Rates
Percent

Percent

Averages of Daily Figures

Funds Rate

1

15 29 12 21 10 24
Nov
Dec

7 21
Jan

4

11 4 18 1 15 29 13 27 10 24
Feb Mar
Apr
May
Jun

8

22
Jul

5

19 2 11 31 14 28
Aug
Sep
Oct

Latest data plotted are averages of rates available for the week ending: December 2. 1994

1994
Sep

9
16
23
30
Oct
7
14
21
28
Nov
4
11
18
25
Dec
2 *

Federal
Funds **
4.74
4.70
4.73
4.66
5.07
4.62
4.72
4.72
4.77
4.74
5.22
5.53
5.85

3-Month
Treasury
Bill

1 —Year
Treasury
Bill

5-Year
Treasury
Securities

10-Year
Treasury
Securities

4.56
4.59
4.71
4.66
4.90
4.91
4.94
5.01
5.10
5.22
5.34
5.31
5.49

5.30
5.38
5.53
5.58
5.71
5.67
5.76
5.86
5.90
6.00
6.18
6.22
6.39

6.95
7.05
7.17
7.25
7.38
7.30
7.37
7.53
7.61
7.69
7.73
7.74
7.81

7.33
7.44
7.54
7.60
7.72
7.65
7.71
7.86
7.94
8.00
7.97
7.91
7.91

Long-Term
Treasury
Securities

7.65
7.76
7.84
7.89
7.99
7.92
7.97
8.08
8.14
8.19
8.1 S
8.10
8.07
Current data appear in the Federal Reserve Board's H.15 release excluding long-term Treasury securities
which are computed by this bank. Treasury bill yields are on a discount basis.
* 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

3520

Billions of Dollars

2500

^ M2 ^
M2 ( left see le)
1994
Oct 17
24
.
31
Nov 7
14
21

3595

Billions
3596.6
3594.9
3584,8..
35 87.4
35 88.2
36 05.5

2475

A

A

3570

1

f V'-

A

'n

/
> ~\ /
V

V

/N

'

/

>

'

V V

1
1

J

-'n
\

V

2425

3595
Non- M1 M2 (right

cale)
Nor -M1 A2
1994
Billie ns

3520

3995

2450

Oct 17
24
31
Nov 7
14
21

4

i l '

* 1 « 1

rrr i 1 i

II 1 15 29 13 27 10 24
Oct
Nov
Dec
Jan
1993

i ' i

7

21
Feb

i • i »

7 21
Mar

4

18 2 16 30 13 27 11 25
Apr
May
Jun
Ju!
1994

8 22
Aug

5

2448.2
2445.3
2440.4
2443.6
2444.6
2452.5

19 3 17 31 14 28 12 26
Sep
Oct
Nov
Dec

2400

2375

Latest data plotted week ending: November 21, 1994
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 11/22/93
2/21/94 4/18/94 5/23/94 6/20/94 7/18/94 8/22/94 9/19/94
ending:

0.0
-0.4

1

1.4
0.6
0.3
0.0

6

0.4
0.6
0.2
0.0
-0.2

00

0.0
0.6
0.7
0.4
0.2
0.0

1


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

2.9
1.9
1.9
1.7
1.3
1.1
0.8

N

2.4
2.1
1.6
1.7
1.6
1.3
1.1
1.0

0

4/16/94
5/23/94
6/20/94
7/16/94
8/22/94
9/19/94
10/24/94
11/21/94

-0.9

-0.9

Prepared by Federal Reserve Bank of St. Louis

Savings and Small Time Deposits
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Savings
1934

Small Time
1994 Billions

Billions

Oct 17
24
31
-Nov 7
14
21

1174.9
1172.5
1166.8
1161.7
1160.1
1161.4

Oct 17
24
Nov

792.8
795.8
798.5

7
804.5

Savings Dsposit8(left scale)

Small Tims (right scale)

4

18
Oct

I 15 29 13 27 10 24 7 21 7 21 4 18 2 18 38 13 27 11 25
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
1993
1994
Note: Savings deposits are at all depository institutions.

8 22 5 19 3 17 31 14 21 12 28
Aug
Sep
Oct
Nov
Dec

Large Time Deposits and Money Market Funds1 /
rui ucpuaiiuiy iiiauiuuuna

Billions of Dollars

Billions of Dollars

Averages of Daily Figures, Seasonally Adjusted

Large Time
1994 Billions
Oct 17
24
31
Nov 7
14
21

4

18

1

Money Market
1_9£4 Billions

354.4
357.8
359.3
360.1
361.3
361.4

15 29 13 27 10 24

1993

Oct 17
Nov

7

365.1
364.6
365.8
368.1
372.1

7

21
Feb

7 21
Mar

4

18 2 18 30 13 27 11 25
Apr
May
Jun
Jul
1994

8 22
Aug

5

19
Sep

17 31

14 28 12 28
Nov
Dec

Latest data plotted week ending: November 21, 1994
1/ Large time deposits are those issued in denominations of $100,000 or more.
Money morket 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

9

10
Total Borrowings
From Federal Reserve Banks
Averages of Daily Figures

Billions of Dollars

1994
Nov

6

2

Billions of Dollars

Billions
0.335
0.271
0.430
0.204
0.197
0.224

20
Oct

3 I7 1 15 28 12 26 9 23 9 23 6 20 4 18 1 15 29 13 27 10 24 7 21 5 19 2 16 30 14 28
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
1993
.
1994
.
. .
.
.
Borrowings include seasonal, adjustment and extended credit; extended credit was $1 million in the week ending
July 20, 1994 and was zero in the other weeks shown in the chart.

Bank Loans and Credit
Billions of Dollars

3350
3300
3250

I
Bank
1994
“Oct 12
19
26
Nov 2
y
16

V

All Commercial Banks in the United States
Seasonally Adjusted

Billions of Dollars

2175

Cr edit
Bil lions
32 76.3
32 89.0
32 92.8
32 92.5
32 90.1

2325
B ank Cnsdrt (!e t scale

2375

r'

2325

\

3200

\

N

W

/-

3150

2275

✓
<

3100

•—^

■s.

++

/V

id lea *»» (ri< ht sea

3050

Loan s&Lec ses
Billi ons
199
Oct 12
19
26
Nov 2
9
6

2324.8
2330.3
2331.3
2334.0
2333.8
2341.1

2225
2175

„ ,l ,
15 29 12 26 9 23 9 23 6 20 4 18
15 2 13 27 10 24 7 21 5 19 ! IS 30 11 1
17
Aug
Sep
Oct
Nov
Dec
Feb
Mar
Apr
May
Jun
Jul
Nov
1994
1993
Latest Wednesday data plotted : November 16, 1994
Current data appear in the Federal Reserve Board's H.8 release.
1 / Includes foreign—related institutions
2/ Includes loans and leases and securities
Prepared by Federal Reserve Bank of St. Louis
20
Oct

3


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

2125

Commercial Paper of Nonfinancial Companies

Billions of Dollars

Billions of Dollars

Not Seasonally Adjusted

1994

Billions

Oct 19
26
Nov 2
9
16
23

158.314
160.325
161.721
157.522
155.958
165.007

Nov
1993

Dec

Nov

Dec

1994

Latest data plotted week ending: November 23, 1994

Commercial and Industrial Loans

Billions of Dollars
(40
1
All Ban ks
1994 fii lions

(30

— Oct 12
19
26
Nov 2
9
_
16

Biltiona of Dollars

320

AJ

6 31.3
6 35.1
6 35.2
6 35.2
6 34.8
6 39.0

310

** ^ * v/

/

r

*

300
610

Lar( • Bank» (righ t scale

r'

"

r

w

✓
^

290

’

199' :
Oct

2
9
26
Nov 2
9
6

*

090
Ml Ban)(M (left scale)

500

MM1

r ■t»

rT l I I1

' 1 ' 1

U

/

i i « i

Oct

i » i

Billions
307.1
308.0
308.2
308.0 —
306.9
308.8

T r 1 t

Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
1993
1994
Latest Wednesday data plotted : November 16, 1994
Current data appear in the Federal Reserve Board's H.8 release.
1/ Includes foreign-related institutions
2/ Weekly reporting, domestically chartered banks
Prepared by Federal Reserve Bank of St. Louis


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

11

280

270

Dollar's Trade-Weighted Exchange Index
1973=100

Averages of Daily Figures

1973=100

1994 1973=100
Oct 26

t

21

3 17 1 15 29 12 2t
Nov
Dec
1993

9 23
Feb

3 23
Mar

I

20 4 10 1 15 29 13 27 10 24
Apr
May
Jun
Jul
Aug
1994

7 21
Sep

Nov

2

1!

2

It 30 14 20
Nov
Dec

Latest data plotted week ending: November 30, 1994
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


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

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3s
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