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RES*"

^RAn

nancial Data
FEB 21

February 16, 1989

THE WEEK'S HIGHLIGHTS:
is

Producer prices, seasonally adjusted, increased at a 12.7 percent
annual rate in January, reflecting sharp increases in the prices of
energy goods and consumer foods. Producer prices are up 4.3 percent
from a year earlier. Excluding energy and food, producer prices rose
at a 5.1 percent annual rate in January.

s

Retail sales increased in January at a 6.8 percent rate to a seasonally
adjusted $138.91 billion. Since January 1988, retail sales have
increased at a 7.7 percent rate.

s

Industrial production rose in January at a 4.4 percent rate. Over
the past year, production increased 5 percent.

^

Capacity utilization of the nation's factories, utilities and mines stood
at 84.4 percent in January compared with 82.5 percent a year earlier.
January's utilization rate is unchanged from the revised December
figure.

KESKKW:
HANK of

views expressed do not necessarily reflect official positions of the Federal Reserve System.


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Federal Reserve Bank of St. Louis

2

ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES

SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS
298 ------------- ,---------- i-----

iSfla
NOV.
DEC.

30
14

BILLIONS OF DOLLARS
------------------------------- 298

BILLIONS
284.9
284.9
288.5
290.7
288.0

2 16 30 13 27 10 24 9 23
JAN
FEB
MAR
DEC
1987

0 20
APR

4 18
MAY

I

15 29 13 27 10 24
JUN
JUL
AUG
1988

7 21
SEP

LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDING: FEBRUARY 8,

5 19
OCT

2 16 30 14 28 II 25 8 22
NOV
DEC
JAN
FEB
1989

1988

THE ADJUSTED MONETARY BASE IS THE SUM OF RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT FEDERAL
RESERVE BANKS. CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND IN THE VAULTS OF ALL
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
THI “
BANK. A DETAILED DESCRIPTION OF THE ADJUSTED MONETARY BASE IS AVAILABLE FROM THIS BANK.
RECENT DATA ARE PRELIMINARY.
ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,
AVERAGE OF TWO MAINTENANCE PER 1ODS ENDING
2/10/88

5/4/88

7/13/88

8/10/88

9/7/88

6.0
6.0
5.2
5.4
5.6
6.5

4.7
4.1
4.7
5.0
6.2

4.5
5. 1
5.4
6.8

0/5/88

11/2/88 12/14/88

TO THE AVERAGE OF
TWO MAINTENANCE
PERIODS ENDING:
7/13/88
8/10/88
9/ 7/88
10/ 5/88
11/ 2/88
12/14/88
1/11/80
2/ 8/89

5.6
6. 1
5.7
5.8
5.5
5.5
5.6
6.2


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Federal Reserve Bank of St. Louis

6.2
5.5
5.6
5.2
5.3
5.5
6.2

4.7
5.2
6.9

6.2
8. 1

9.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

laaa

BILLIONS OF DOLLARS
80S

MILLIONS

JAN.

790.3
786.2
786.7

785

765

7 21

4 18

DEC
1987

JAN

I

19 20 14 28 11

MAR

25

0 25

APR

6 20

4 18

I

IS 20 12 26 10 24

LATEST DATA PLOTTED WEEK ENDING. FEBRUARY 6,

7 21

5 10

NOV

JUN
JUL
1988

DEC

2 16 90 13 27

1989

1989

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
DEPOSITS AND TRAVELERS CHECKS.

BY THE NONBANK PUBLIC, DEMAND DEPOSITS, OTHER CHECKABLE

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
2/8/88

5/9/88

7/4/88

8/8/88

9/5/88

10/3/88

11/7/88

5.6
6.0
5. 1
4.8
4.5
4.4
4. 1
3.4

5.3
3.9
3.6
3.5
3.4
3.2
2.3

4.0
3.5
3.3
3.2
3.0
2.0

0.8
1.6
1.9
1.9
0.8

2.7
2.7
2.5
1.1

2.8
2.5
0.8

2.3
0. 1

12/5/88

TO THE AVERAGE
OF FOUR WEEKS
ENDING.
7/
8/
9/
10/
11/
12/
1/
2/

4/88
8/88
5/88
3/88
7/88
5/88
9/89
6/89


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

-1.1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4

MONEY MULTIPLIER^
CURRENCY COMPONENT OF MONEY STOCK s
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

1989
NOV.
DEC.
JAN.

RATIO

M
28
12
26
9

2.740
2.752
2.778
2.773
2.734
2.702
Ml MULTIPLIER

14 28 11

DEC
1987

25

JAN

8 22

FEB

7 21

4 18

MAR

APR

2

18 30 13 27

MAY

11

25

8 22

JUN
JUL
1988

AUG

LATEST DATA PLOTTED TWO WEEKS ENDING: JANUARY 23,

10

SEP

3 17 31

OCT

14 28 12

NOV

DEC

0 23

8 20

JAN
FEB
1989

1989

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
218

_

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
“ THE FOUR *EEK5 ENDING
— FEBRUARY 6, 1989 FROM
_ THE FOUR WfeEKS ENDING:
_

DEC. 5,
NOV. 7
OCT.
3

— SEP.
- AUG.
_ MAY
FEB.

1988
1988
1988

5
8
9

1988
1988
1988

8

1988

8.2
7.4
6.9

7.5
7.0
7.3

CURRENCY

7.4

19SSL

BILLIONS
212.3
213.2

213.7

1,1 J I 1.1 1 1 I II I
7 21

4 18

DEC
1987

JAN

1

IS 20 14 28 11

25

0 23

8 20

4 18

I

IS

10 24

7 21

5 10

2

18 30 13 27

1988

LATEST DATA PLOTTED WEEK ENDING: FEBRUARY 6,

1989

1/ RATIO OF MONEY STOCK (Ml ) TO ADJUSTED MONETARY BASE
2/ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

1.

TOTAL CHECKABLE DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

1989
JAN.

BILLIONS OF DOLLARS
580

BILLIONS.
2

570.4
566.5
564.9
565.2
566.0

560

1

DEC

IS 29 14 28 II 25

JAN

MAR

0 23

8 20

4 18

JUN

APR

JUL

I

15 29 12 26 10 24

7 21

5 10

NOV

DEC

2

16 50 13 27

1989
LATEST DATA PLOTTED WEEK ENDINGt FEBRUARY 6.

1989

TOTAL|CHECKA^E|DEPOSITS IS THE SUM OF DEMAND DEPOSITS AND OTHER CHECKABLE DEPOSITS AT ALL

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE
2/8/88

5/9/88

7/4/88

4.8
5.4
4.3
3.7
3.5
3.3
2.9
1.9

4.6
2.8
2.2
2. 1
2.0
1.7
0.5

3. 1
2.0
2.0
1 .9
1.5
0.0

AVERAGE OF FOUR WEEKS ENDING:

8/8/88

9/5/88

-1.6
-0.3
0.2
0. 1
-1.4

0.8
1.1
0.8
-1.2

10/3/88

11/7/88

12/5/88

TO THE AVERAGE
OF FOUR WEEKS
ENDINGt
7/
8/
9/
10/
11/
12/
1/
2/

4/88
8/88
5/88
3/88
7/88
5/88
9/89
6/86


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

1.7
1.1
-1.4

0.7
-2.6

-4.4

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECUR TIES
AVERAGES OF DAILY RATES

percent

4 18

1

IS 28 12 26 II

FEB

25

8 22

6 20

3 17

MAY

MAR

JUN

1

IS 20 12 28

0 23

7 21

4 18

2 18 30 13 27 10 24

OCT

NOV

JAN

FEB

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt FEBRUARY 17, 1989.

DEC.

2
9
16
23
30
JAN.
6
13
20
27
FEB.
3
10
17 *
24

90 DAY
CD'S

30-DAY
COMMERC1AL
PAPER

90-DAY
BANKERS*
ACCEPTANCES

CORPORATE
Am BONDS

9.22
9.24
9,32
9.29
9.20
9.20
9.23
9.21
9. 17
9. 19
9.34
9.52

8.82
9.27
9.32
9.39
9.30
9.05
9.04
9.02
9.00
9.04
9. 14
9.26

8.94
8.93
9.02
8.98
8.90
8.93
8.95
8.93
8.92
8.95
9.09
9.28

9.55
9,52
9.57
9.59
9.60
9.66
9.69
9.61
9.56
9.56
9.56
9.65

SSSKUS t*

1989

board

"■G0VERN0RS'H-15

CORPORATE
BM BONDS
10.61
10.61
10.65
10.68
10.67
10.73
10.70
10.62
10.61
10.56
10.53
10.62

MUNICIPAL
BONDS M8K
7.66
7.68
7.66
7.57
7.50
7.44
7.40
7.29
7.27
7.29
7.38
N.A.

RELEASE­

** BOW BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BOWS, THURSDAY DATA
N.A. - WT AVAILABLE


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

PREPARED BY FEDERAL RESERVE BANK OF ST, LOUIS

»

____ 1.

SELECTED

INTEREST RATES

AVERAGES OF DAILY RATES

PERCENT

11.0 i—

TREASURY

I TIES

DISCOUNT RATE

4 18

I

15 28 12 26 11

25

8 22

8 20

5 17

1

15 28 12 26

JAN
FEB
MAR
APR
MAY
JUN
JUL
DEC
1198
8

AUG

8 23

SEP

7 21

4

OCT

NOV

18

2

16 30 13 27 10 24

DEC

JAN
FEB
IQ89

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt FEBRUARY 17,

1969
DEC.

2
9
16
23
30
JAN.
6
13
20
27
FEB.
3
10
17 *
24

1989.

FEDERAL
FUNDS**

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILLWKK

1-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

8.44
8.59
8.51
8.87
8.86
9.22
9.08
9. 13
9.06
9.16
9. 10
9.27

7.94
7.96
8.09
8. 1 1
8.16
8.24
8.26
8.24
8,29
8.38
8.52
8.53

8.13
8.25
8.21
8.29
8.33
8.37
8.48
8.35
8.31
8.39
8.53
8.54

8. 10
8.23
8.42
8.32
8.38
8.47
8.43
8.28
8.30
8.38
8.46
8.58

9.00
8.99
9. 16
9.10
9. 18
9.28
9.23
9.09
9.04
9.07
9.14
9.32

9. 18
9.08
9. 13
9.08
9. 1 i
9.21
9. 12
8.99
8.94
8.94
9.01
9.22

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.15 RELEASE EXCLUDING LONG-TERM TREASURY
COMPUTED BY THIS BANK.
TREASURY BILL YIELDS ARE ON A DISCOUNT BASIS.
|AslvEN^DAYF AVERAGES^FOr'wEEK
ENDING TWO DAYS EARLIER THAN DATE SHOWN
» AUCTION AVERAGE (DISCOUNT)


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

PREPARED BY FEDERAL RESERVE BAM OF ST. LOUIS

7

8

MONEY STOCK ( M2)

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

3075

BILLIONS OF DOLLARS
3100

3071.5
3069.3

_ JAN

3070.5
3071.3
3068.9

— FEB

3025

3000

3000

2975

2950

2925

2900

2900

7 21

4

DEC

JAN

IS

I

15 29 14 28 11

MAR

25

S 23

0 20

4 10

JUN

APR

JUL

1

13 20 12 20 10 24

7 21

3

NOV

DEC

10

2

16 30 19 27

1989
LATEST DATA PLOTTED WEEK ENDINGi FEBRUARY 6,

1909

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE
M2 IS THE SUM OF Ml. OVERNIGHT RPS ISSUED BY ALL COMCRCIAL BANKS, OVERNIGHT EURODOLLARS ISSUED
TO U.S. RESIDENTS BY FOREIGN BRANCHES OF U.S. BANKS, MONEY MARKET DEPOSIT ACCOUNTS. SAVINGS AND
SMALL TIME DEPOSITS, AND GENERAL PURPOSE AND BROKER/DEALER MONEY MARKET MUTUAL FUN6s. FOR MORE
DETAIL, SEE THE H.6 RELEASE.

MONEY STOCK (M2)
COMPOUNDED ANNUAL RATES OF CHANGE,
2/8/88

AVERAGE OF FOUR WEEKS ENDING:

5/9/88

7/4/88

8/8/88

9/5/88

10/3/88

11/7/88

12/5/88

4. 1
3.7
3.3
3.4
4.0
3.8
3.3

3. 1
2.6
3.0
3.8
3.6
3. 1

1.9
2.8
3.9
3,6
2.9

3.0
4.4
3.9
3.1

5.6
4.6
3.4

4.9
3. 1

1.2

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
7/
8/
9/
10/
11/
12/
1/
2/

4/88
8/88
5/88
3/88
7/88
5/88
9/89
6/89

6.4
5.9
5.4
5.0
4.8
5. 1
4.8
4.4


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

ALL DEPOSITORY INSTITUTIONS
TOTAL TIME DEPOSITS^
LARGE TIME DEPOSITS*/
AVERAGES OF DAILY FIGURES
2030

2000

=

1

1------------1—1—

2030

- COMPOUNDED ANNUAL RATES
- OF CHANGE AVERAGE OF
—THE FOUR *EEKS ENDING
_ FEBRUARY 6. II 189 FR OM
- THE FOUR w£EK£ END 1 NGt

1970

— DEC.

1940

I oc T.
- SE P.
- At g.
- MJ Y
I FE B.

S,
,
,
,
e,
S ,
e,

V.

1988
1988
1988
1988
1988
1988
1988

8.
7.
8.
8.
8.
8.
9.

0
8
3
9
9
7
5

•

—

2000
TOTAL TIME DEPOS TS

=

z

1910

1910
-

JAN
I
1820
:in

FEB.
111 -LU 1

111 -L.l 1

.mi

-LLL .LLL -Li 11

-LLL -U.I 1

31LL1 Of

s

ISm

1850

m il

1880

2
9
16

«:i

=

30
6

2015.7
2018.8

~
_

' M 1 1 1 1 1 1 1 1 1 1 l i iig

1969

BILLIONS OF DOLLARS
550 _——1--------------

-

19.99

- JAN.
I
------ccd

2
9
16
23

r

f

BILLI BUS

—

540.
541.
544.
546.
545. t

540
5

LARGE TIME )EPOS TS

-

520

=

-

E

=

510

I

490
-

480

Lll

7 21
DEC
1987

-LLL
4

18

JAN

1111
-LLL
1 15 2t

FEB

-LLL am

MAR

APR

j.i i

111

MAY

in i-

JUN
JUL
1988
LATEST DATA PLOTTED WEEK ENDINGt FEBRUARY 6, 1989

111

AUG

SEP

-LI

1 1.

OCT

1 1 1

-LLL

NOV

DEC

Jill

in

:

JAN
FEB
1989

1/ TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS, SMALL TIME DEPOSITS AND LARGE TIME DEPOSITS.
2/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF 6100,000 OR MORE


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

BORROWINGS FROM FEDERAL RESERVE BANKS
BILLIONS OF DOLLARS

JAN.

11
18
25

BILLIONS

of dollars

1816
1870
1174

8
15

AVERAGES OF DAILY FIGURES

1588
1220

TOTAL BORROWINGS

LATEST DATA PLOTTED WEEK ENDING: FEBRUARY 15, 1980
BILLIONS OF DOLLARS
---------1---------- 1---------- 2.5

BILLIONS OF DOLLARS
2.5 ------------- r---------------

ADJUSTMENT + SEt
SEASONAL
iTMENT
BORROWINGS

2 16 50 IS 27 10 24 9 25
DEC
JAN
FEB
MAR
1987

6 20
APR

4 16
MAY

I IS 20 15 27 10 24
JUN
JUL
1968

7 21

8 19

2 16 50 14 28 11 28 8 22
JAN
FEB

LATEST DATA PLOTTED WEEK ENDING: FEBRUARY 15, 1980


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

100.002

104,150
I UDf JW
107,000

JAN

FEB

APR

MAY

SEP

1987

OCT

1988

1989

LATEST DATA PLOTTED WEEK ENDINGt FEBRUARY 8, 1989
* DASHED LINE REPRESENTS DATA USING A NEW REPORTING PANEL AND IS NOT COMPARABLE TO PREVIOUS DATA.

BUSINESS LOANS u

( COMMERCIAL AND INDUSTRIAL )
WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
310 ------------- i---------- ,------ COMPOU!

ILL IONS OF DOLLARS
---------------------------- 310

:D ANNUAL RATES

- THE FOUR
rcoruwi i, iwow rriUM
- THE FOUR WEEKS ENDING:
- NOV. 30,

1988

AUG. 31
AUG. 3,
_ MAY
FEB. 3,

1988

-0.6

1988

DEC. 28
JAN. 4

302,025
304,076
304,576

FEB.
2 18 SO 13 27 10 24

JAN

9 23

FEB

6 20

4 IS

APR

MAY

I

13 29 13 27 10 24

7 21
SEP

5 19
OCT

1

305,016

1 II I I I I I I I I I I I
2 10 30 14 28 II 25 8 22
DEC
JAN
FEB

LATEST DATA PLOTTED WEEK ENDINGt FEBRUARY I. 1980
1/ BUSINESS LOANS INCLUDE BANKERS’ ACCEPTANCES AND COMMERCIAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS GREATER THAN 81.4 BILLION


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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

973-100

JAN.

11
95.5

95.9

2 18 30 13 27 10 24

JAN

FEB

9 23

8 20

4 18

APR

I

IS 29 15 27 10 24

7 21

5 10

2 IS 30 14 28 II 25

SEP

MAY

OCT

DEC

JAN

8 22

FEB

LATEST DATA PLOTTED WEEK ENDING. FEBRUARY 15, 1989
NOTE.

CURRENT DATA APPEAR IN THE BOARD OF GOVERNOR1S H.10 RELEASE.

DATA ARE WEIGHTED AVERAGES OF THE FOREIGN-CURRENCY PRICE OF THE U.S. DOLLAR, COMPUTED USING
10 INDUSTRIAL COUNTRY CURRENCIES.


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS