Full text of U.S. Financial Data : February 9, 1989

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Fee

:.i

HSj3rve Sank

tcffnrUncial Data
February 9, 1989
FEB 14

~

THE WEEK'S HIGHLIGHTS:
is

Consumer credit in the United States increased at a seasonally
adjusted 10.3 percent annual rate in December. For all of 1988,
consumer credit grew 8.8 percent, up from a 7.2 percent gain in 1987.

s

Orders for durable goods rose 6.4 percent in December after rising
0.2 percent in November. Durable goods orders for 1988 were 10.9
percent higher than in 1987.

is

Increases in hourly compensation in the fourth quarter of 1988 slowed
to a 4.7 percent annual rate after increasing at a 6.2 percent rate
in the third quarter.

is

The civilian unemployment rate in January was 5.4 percent, up
slightly from 5.3 percent in December.

The Federal Reserve Board recently revised money stock measures and
related items. This revision reflects annual benchmark and seasonal
factor adjustments.

reserve

ItWknl

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 ------------- ,---------- 1-----~

1989

” NOV.
— DEC.
_ JAN.
~

FEB.

30
14
28
II
25
8

2 18 90 13 27

DEC
1987

JAN

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

BILLIONS
205.7
284.9
284.9
288.5
290.7
288.0

10 24

FEB

0 23

MAR

0 20

4 18

APR

MAY

1

15 20 13 27 10 24

JUN
JUL
1988

AUG

7 21

5 10

SEP

OCT

2 18 30 14 28 11

NOV

DEC

28

8 22

JAN
FEB
1989

LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDING: FEBRUARY 8, 1989
THE ADJUSTED MONETARY BASE IS THE SUM OF RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT FEDERAL

BANK.

A DETAILED DESCRIPTION OF THE ADJUSTED MOfCTARY 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

6.2
5.5
5.6
5.2
5.3
5.5
6.2

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
1/11/89
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

4.7
5.2
6.9

6.2
8. 1

9.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

1

MONEY STOCK ( Ml )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
805 r-------- 1---------- 1--------

BILLIONS OF DOLLARS
—------------- -------- Zl 805

BILLION?
z

DEC.

26

789.6
790.3
786.8
784.6
786.2
787. I

29 H 26 II

DEC
1987

JAN

FEB

MAR

APR

25

9 23

MAY

0 20

4 18

I

JUN
JUL
1988

LATEST DATA PLOTTED WEEK ENDING: JANUARY 30,

15 29 12 26 10 24

AUG

SEP

OCT

7 21

5 19

NOV

DEC

2

IB 30 13 27

JAN
FEB
1989

1989

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.
BY THE N°NBANK PUBL'C' DEUAND DEP0SITS' °™ER CHECKABLE

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE,

AVERAGE OF FOUR WEEKS ENDING:

2/1/88

5/2/88

6/27/8E

8/1/88

8/29/88

5.1
6. 1
5.0
4.5
4. 1
3.7
4.3
3.4

6. 1
4.2
3.6
3. 1
2.7
3.6
2.5

4.7
3.6
2.9
2.4
3.6
2.3

0. 1
0.3
0.2
2.2
0.8

1.2
0.8
3.1
1.3

10/3/88 10/31/88 11/28/88

TO THE AVERAGE
OF FOUR WEEKS
ENDING*.
6/27/88
8/ 1/88
8/29/88
10/ 3/88
10/31/88
11/28/88
1/ 2/89
1/30/89

0.2
3.6
1.1

5.0
1.3

2.0

Beginning December 5, 1988, data are on the revised basis and are not comparable to
prior data; therefore, special caution should be taken in interpreting growth rates.


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BAFK OF ST. LOUIS

3

4

MONEY MULTIPLIERi/
CURRENCY COMPONENT OF MONEY STOCK ^
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO

1989
NOV.

RATIO

14
28
12
26
9
23

DEC.
JAN.

RATIO

2.740
2.752
2.776
2.773
2.734
2.702
Ml MULT I PL

14 28

DEC
1987

II

JAN

25

8 22

FEB

7 21

4 16

MAR

APR

2

IS 30 13 27

MAY

II

25

JUN
JUL
1968

8 22

AUG

LATEST DATA PLOTTED TWO WEEKS ENDING*. JANUARY 23,

5 18

SEP

3 17 31

OCT

NOV

DEC

JAN
FEB
1989

1989
ILL IONS OF DOLLARS
218

BILLIONS OF DOLLARS

COMPOUNDED ANNUAL RATES
OF CHANGE, AVERAGE OF
THE FOUR WEEKS ENDING
JANUARY 30, 1989 FROM
THE FOUR faEKS ENDING:
NOV.
OCT.
OCT.
AUG.
AUG.
MAY
FEB.

28,
31,
3,
29,
1,
2,
1,

1988
1988
1988
1988
1988
1988
1988

9.1
7.2
6.9
7.3
6.7
7.1
7.3

CURRENCY

data P’
202
212.1

212.3
212.6
213.2
213.7
214.0
1111111111111111
DEC

JAN

MAR

APR

LATEST DATA PLOTTED WEEK ENDING:

JUN
JANUARY 30,

NOV

JUL

DEC

1989

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


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

TOTAL CHECKABLE DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
580 ---------- 1---------- 1--------

1989
DEC.
JAN.

BILLIONS OF DOLLARS
------------------------------- 580

BILLIONS

26
*

570.4

566.6
563.9
564.9
565.5

1

DEC
1987

JAN

15 20 14 28 II

FEB

MAR

APR

25

9 23

MAY

0 20

LATEST DATA PLOTTED WEEK ENDING: JANUARY 30,
TOTAL CHECKABLE DEPOSITS
DEPOSITORY INSTITUTIONS.

4

18

I

19 29 12 26 10 24

AUG

JUN
JUL
1988

SEP

OCT

7 21

5 18

NOV

DEC

2

16 30 13 27

JAN
FEB
1989

1989

S THE SUM OF DEMAND DEPOSITS AND OTHER CHECKABLE DEPOSITS AT ALL

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
2/1/88

5/2/88

6/27/88

4.3
5.5
4.2
3.5
2.9
2.5
3.2
2.0

5.6
3.4
2.4
1 .8
1.3
2.4
0.9

4.0
2.2
1.3
0.8
2.4
0.4

8/1/88

8/29/88

10/3/88 10/31/88 11/28/88

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
8/27/88
8/ 1/88
8/29/88
10/ 3/88
10/31/88
11/28/88
1/ 2/89
1/30/89

-2.1
-2.0
-1.9
0.6
-1.4

-1.2
-1.3
1.6
-1.0

-1 .6
2.6
-1.1

4.5
-0.9

-0.6

Beginning December 5, 1988, data are on the revised basis and are not comparable to
prior data; therefore, special caution should be taken in interpreting growth rates.


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT

12.0

MUNIC

4 18

I

15 20 12 26 11

FEB

25

MAR

8 22

6 20

3 17

MAY

JUN

1987

1

15 20 12 26

0 23

7 21

4 18

OCT

NOV

2 16 30

1988

13 27

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: FEBRUARY 10,

1989
DEC.

JAN.

FEB.

2
9
16
23
30
6
13
20
27
3
10 K
17
24

10 24

JAN
FEB
1989
1989.

90 DAY
CD'S

30-DAY
COMMERCIAL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
Am BONDS

CORPORATE
BM BONDS

MUNICIPAL
BONDS XX

9.22
9.24
9.32
9.29
9.20
9.20
9.23
9.21
9. 17
9. 19
9.31

8.82
9.27
9.32
9.39
9.30
9.05
9.04
9.02
9.00
9.04
9.10

8.94
8.93
9.02
8.98
8.90
8.93
8.95
8.93
8.92
8.95
9.05

9.55
9.52
9.57
9.59
9.60
9.66
9.69
9.61
9.56
9.56
9.56

10.61
10.61
10.65
10.68
10.67
10.73
10.70
10.62
10.61
10.56
10.54

7.66
7.63
7.66
7.57
7.50
7.44
7.40
7.29
7.27
7.29
N. A.

NOTEt CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.15 RELEASE.
* AVERAGES OF RATES AVAILABLE
m 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

AVERAGES OF DAILY RATES

PERCENT

PERCENT

11.0 i—

5-YEAR
TREASURY SECURITIES

<ATE

DISCOUNT RATE

TREASURY BILL

4 IS

1

DEC
1907

IS 29 12 20 11 25

JAN

FEB

MAR

8 22

APR

0 20

3 17

MAY

JUN
JUL
1988

1

15 29 12

AUG

4 IS

SEP

OCT

NOV

2

16 30 13 27

DEC

10 24

JAN
FEB
1989

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt FEBRUARY 10, 1989.

1989
DEC.

JAN.

FEB.

2
9
16
23
30
6
13
20
27
3
10 X
17
24

FEDERAL
FUNDS *GK

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL *610*

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

7.94
7.96
8.09
8. 1 1
8.16
8.24
8.26
8.24
8.29
8.38
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. 10
8.23
8.42
8.32
8.38
8.47
8.43
8.28
8.30
8.38
8.44

9.00
8.99
9. 16
9. 10
9. 18
9.28
9.23
9.09
9.04
9.07
9.09

9. 18
9.08
9. 13
9.08
9. 1 1
9.21
9. 12
8.99
8.94
8.94
8.94

NOTEi
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.15 RELEASE EXCLUDING LONG-TERM TREASURY
* AVERAGESUOFTRATESHAVAIL^LE<*rUTED BY ™IS ®ANK‘
TREASURY BILL YIELDS ARE ON A DISCOUNT BAS IS.
laett^AUCTiOn"AVERAGE^?D^SCOUNT*


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Federal Reserve Bank of St. Louis

™° “YS EARLIER

DATE

PREPARED BY FEDERAL RESERVE BAW OF ST. LOUIS

7

8

MONEY STOCK ( M2 )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
3100

3075

__ DEC.

BILLIONS OF DOLLARS
3100

3071.7
3072.2
3070.0
3069.9
3071.4
3072.0

26

3050

3025

3000

2975

2950

2900

7 21

DEC
1987

4

18

1

15 2fl 14 28

II

23

0 29

6 20

4

18

1

15 29 12 28 10 24

JAN

7 21

5 10

NOV

DEC

1988

2

IS 90 19 27

1989

LATEST DATA PLOTTED WEEK ENDING: JANUARY 30, 1989
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE
M2 IS THE SUM OF Ml. OVERNIGHT RPS ISSUED BY ALL COMMERCIAL BANKS, OVERNIGHT EURODOLLARS ISSUED
TO U.S. RESIDENTS B* FOREIGN BRANCHES OF U.S. BANKS, MONEY MARKET DEPOSIT ACCOUNTS, SAVINGS AND
SMALL TIME. DEPOSITS, AND GENERAL PURPOSE AND BROKER/DEALER MONEY MARKET MUTUAL FUNDS.
FOR MORE
DETAIL, SEE THE H.8 RELEASE.

MONEY STOCK < M2 )
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
2/1/88

5/2/88

6/27/88

8/1/88

8/29/88

4.6
4.0
3.3
3. 1
3.6
4.0
3.5

3.0
2.3
2.1
3. 1
3.7
3.1

1.6
1.6
2.9
3.7
3.0

1.3
3.1
4.0
3.1

10/3/88 10/31/88 11/28/88

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
6/27/88
8/ 1/88
8/29/88
10/ 3/88
10/31/88
11/28/88
1/ 2/89
1/30/89

7.5
6.7
6.2
5.4
5.0
5.2
5.3
4.9

4.4
5.2
3.7

6.8
4.4

3.1

Beginning December 5, 1988, data are on the revised basis and are not comparable to
prior data; therefore, special caution should be taken in interpreting growth rates.


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 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
2030 ---------- .---------- 1------

BILLIONS OF DOLLARS
—1------------- ----------- 2030

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FOUR WEEKS ENDING _
JANUARY 30, 1989 FROM
THE FOUR wtEKS ENDING:

2000

NOV.
OCT.
OCT.
AUG.
AUG.
MAY

28,
31,
3,
29,
1,
2,

1988
1988
1988
1988
1988
1988

7.2
7.5
8.3
9.2
9.3
9.1

2000

"
TOTAL TIME DEPOSITS
'

1982

BJLLI.PNS
1997.
9

2001.4
2006.3
2011.0

1111111111111111
LATEST DATA PLOTTED WEEK ENDING: JANUARY 30,

1989

BILLIONS OF DOLLARS
550 ---------- 1---------- 1------

1989

ILL IONS OF DOLLARS
-i------------- -----------550

B1LUQN5
539.4
540.2
541.3
545.8
545.3
LARGE TIME DEPOSITS

data P1

7 21

4 18

DEC

JAN

I

15 29 14 28 II

MAR

APR

29

9 23

8 20

4 18

JUN

JUL

LATEST DATA PLOTTED WEEK ENDING: JANUARY 30,

I

15 29 12 28 10 24

7 21

5

NOV

DEC

19

2 18 30 13 27

1989

1/ TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS, SMALL TIME DEPOSITS AND LARGE TIME DEPOSITS.
2/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF 8100,000 OR MORE


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
4.5 i----------- 1---------- i------

4
11
18
25
1
8

BILLIONS OF DOLLARS
---------------------------- 4-5

2280
1816
1879
1174
956
1588

TOTAL BORROWINGS

LATEST DATA PLOTTED WEEK ENDING* FEBRUARY 8.

1989
BILLIONS OF DOLLARS
---------1---------- 1---------- 2.5

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

1M

MILLIONS.
4

1372

ADJUSTMENT + SEASONAL
BORROWINGS

2

16 SO 13 27

DEC
1987

JAN

10 24

FEB

9 23

MAR

6 20

4

APR

MAY

16

1

15 20 13 27

JUN
JUL
1988

LATEST DATA PLOTTED WEEK ENDING* FEBRUARY 8,


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Federal Reserve Bank of St. Louis

10 24

7 21

5 10

AUG

SEP

OCT

2 16 30 14 28

NOV

DEC

11

25

6 22

JAN
FEB
1989

1989

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
BILLIONS OF DOLLARS
,,0 ------------,--------- ,-----

NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

MILLIONS
DEC. 28
90,555
104,159
105,154

JAN

FEB

APR

MAY

SEP

OCT

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

BUSINESS LOANS u
l UUMMtKUIAL AND

INDUSTRIAL )

WEEKLY REPORT ING LARGE COMMERCIAL BANKS 2/
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
308 ------------- ,---------- .-----

BILLIONS OF DOLLARS
-------- ---------------------- 308

- COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
- THE FOUR *EEKS ENDING

- NOV.
wv I .
SEP.
ocr .
AUG.
nUw.
“ JUL.
«rn.
JAN.

23,
<0,
28,
co,
24,
cl,
27,
ii,
27,

1988
I 900
1988
i900
1988
1900
1988
i900
1988

-0.5
-0.6

MILLIONS
DEC. 21

303,280

JAN.

304,076

4

304,576
111 1 I I I I I I I I I I
5 19

JAN

FEB

APR

MAY

LATEST DATA PLOTTED WEEK ENDING: JANUARY 25,

SEP

OCT

2 ie 90 14 28 11

DEC

JAN

25

8 22

FEB

1988

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

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11

DOLLAR'S TRADE-WEIGHTED EXCHANGE

INDEX

AVERAGES OF DAILY FIGURES
1973-100

1973-100

95.6
96.7

I I I I
2 10 30 13 27 10 24
JAN

8 23

FEB

8 20

4 18

APR

MAY

1987

IS 28 IS 27 10 24

7 21

5 18

SEP

OCT

1988

LATEST DATA PLOTTED WEEK ENDING-.
NOTE*

1

CURRENT DATA APPEAR

FEBRUARY 8,

2 18 30 14 28 II 2S
DEC

JAN

8 22
FEB

1989

1989

IN THE BOARD OF GOVERNOR'S 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

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.

LOUIS