Full text of U.S. Financial Data : January 21, 1994

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

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THE WEEK'S HIGHLIGHTS:
Industrial production increased at an 8.8 percent annual rate
during December, the seventh consecutive monthly increase.
Compared with a year earlier, production was up 4.7 percent.
>/ The total industry capacity utilization rate rose from 83 percent in
November to 83.5 percent in December, compared with 81 percent
a year earlier. December’s rate is slightly above rates that prevailed
just before the 1990-91 recession.
y/ Business inventories increased at a 7.7 percent annual rate from
October to November and were up 3.3 percent from a year earlier.
The inventory/sales ratio for November was 1.44, down slightly
from 1.45 in October and down sharply from the 1.49 ratio in
November 1992.
y/ The merchandise trade deficit for November was $10.2 billion.
During the first 11 months of 1993, the trade deficit was $108.8
billion, compared with a deficit of $76.1 billion for the same period
in 1992.

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

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 as follows:
One year (50 issues) $21

Two years (100 issues)

$36

To subscribe, please send your check or money order made payable to the Federal Reserve Bank
of St. Louis to: Research and Public Information, Federal Reserve Bank of St. Louis, Post Office
Box 66953, St. Louis, MO 63166-6953. DO NOT SEND CASH. Checks from foreign subscribers
must be payable in U.S. dollars and, except for those from Canada, must be drawn on a U.S. bank.
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 of Daily Figures
Seasonally Adjusted

Billions of Dollars

1994

Billions

Nov 10
24
Dec 8
22
Jon 5
19

420.5
423.4
422.6
423.2
424.9
427.3

4 18

Billions of Dollars

2 16 30 13 27 10 21 10 2* 7 21 5 19 2 16 30 11 28 11 25 8 22 6 20 3 17 1 15 29 12 26

Nov Dec

Jan

Feb

Mar

Apr

May

Jun

1992

Jul

Aug

Sep

Oct

1993

Nov

Dec

Jan

1994

Latest data plotted reserve maintenance period ending: January 19, 1994
The adjusted monetary base is the sum of resen/e 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 bank. A detailed description of the adjusted monetary base is
available from this bank.
Recent data are preliminary.

Adjusted Monetary Base
To the overage of
two maintenance
periods ending:
6/23/93
7/21/93
8/18/93
9/15/93
10/13/93
11/24/93
12/22/93
1/19/94

Compounded annual rates of change, average of two maintenance periods ending:
1/20/93

10.4
11.0
10.7
10.6
11.2
10.5
9.8
9.9


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Federal Reserve Bank of St. Louis

4/14/93

13.8
12.7
12.1
12.9
11.5
10.5
10.5

6/23/93

11.6
10.8
12.4
10.6
9.4
9.5

7/21/93

9.1
11.7
9.8
8.5
8.7

8/18/93

13.2
10.0
8.4
B.7

9/15/93 10/13/93 11/24/93

10.3
8.1
8.6

Prepared by Federal Reserve Bank of St. Louis

Money Stock (M1) and Total Checkable Deposits
Averages or Daily Hgures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

M1
1994
~ Dec 6
13
20
27
_ Jan 3
10

Billions
1128.3
1126.2
1133.1
1134.2
11 32.3 .
1130.4

M1 (left scale)

TCD

(right scale)

2 16 30 14 28 11 25 8 22 8 22 5 19 3 17 31 14 28 12 26
23 6 20
Nov Dec
Feb Mar Apr May Jun Jul
Aug Sep
1992

1993

1994

Billions

Dec 6
13
20
27
Jan 3
10

799.5
797.5
803.8
804.5
800.9
798.3

18 1 15 29 13 27 10 24
Nov Dec

1994

Latest data plotted week ending: January 10, 1994
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)
T„ ,u.
Compounded annual rates of change, average of four weeks ending:
10 the average 1/11/g3 4/12/93
6/7/93 7/12/93 8/9/93 9/13/93 10/11/93 11/8/93
of four weeks
ending:
6/7/93
7/12/93
8/9/93
9/13/93
10/11/93
11/8/93
12/13/93
1/10/94

10.1
9.8
10.1
10.3
10.9
10.7
10.4
10.0


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Federal Reserve Bank of St. Louis

15.5
14.8
14.0
14.3
13.6
12.8
12.0

10.3
10.6
11.8
11.3
10.7
10.0

11.7
13.0
12.1
11.1
10.3

13.3
12.0
10.9
9.9

12.6

10.7
9.6

8.5
7.7

7.0

Prepared by Federal Reserve Bank of St. Louis

3

4
Adjusted Reserves
Billions of Dollars

1994

Seasonally Adjusted

Billions of Dollars

Billions

Oct 27 105.1

— Nov 10

101.2

24 103.5
Dec 8 101.5
Jan

22
5

102.2
102.3

4 18 2 IS 30 13 27 10 24 10 24 7 21 5 19 2 16 30 14 28 11 25 8 22 6 20 3 17 1 15 2! 12 26
Nov Dec Jan
Feb Mar Apr May Jun
Jul
Aug Sep Oct Nov Dec Jan
1992

1993

1994

Latest data plotted two weeks ending: January 5. 1994
Adjusted reserves is the difference between adjusted monetary base and currency component of M1.

Adjusted Reserves
Compounded annual rates of change, average of two maintenance periods ending:
To the average of
1/6/93 3/31/93 6/9/93
7/7/93
8/4/93
9/1/93
9/29/93 11/10/93
periods ending:
6/9/93
7/7/93
8/4/93
9/1/93
9/29/93
11/10/93
12/8/93
1/5/94

15.3
8.3
12.5
11.8
9.5
12.6
10.2
9.2


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Federal Reserve Bank of St. Louis

20.1
25.2
21.6
16.4
19.6
15.4
13.5

5.3
5.8
2.0
10.0
6.1
4.9

24.2
12.1
19.2
12.5
10.1

-1.3
12.8
6.5
4.8

15.3
6.4
4.4

13.1
8.4

-7.9

Prepared by Federal Reserve Bank of St. Louis

Money Multiplier 1/
Averages of Daily Figures
Seasonally Adjusted

Ratio
Compounded annual
rates of change,
average of the four
weeks ending
January 3, 1994 from
the four weeks ending:
Jan 4. 1993 0.3
Apr 12, 1993 1.7
Jul 5. 1993 1.4
Aug 16. 1993 2.0
Sep 13. 1993 2.0
Oct 11. 1993 2.5
Nov 8. 1993 5.0

Ratio
Oct 25
Nov 8
Dec

6

Jan

3

2.668

2.662
2.671
2.670
2.667

1 16 30 14 28 11 25 8 22 8 22 5 19 3 17 31 14 28 12 26 9 23 6 20 4 18 1 15 29 13 27 10 24
Nov Dec Jan
Feb Mar Apr
May, Jun
.
Jul
Aug Sep Oct Nov Dec Jan
1992

1993

1994

Latest data plotted two weeks ending: January 3, 1994

Currency Component of M12/
Billions of Dollars
330 ---------1----------1---------Compounded annu □I
rates of change,
average of the fou
weeks ending
January 10, 1994
320
the four weeks end ng:
Jan 11. 1993
.9
Apr 12, 1993
.9
Jul 12, 1993
.4
.
Aua
9.
1993
.6
310
Sep 13, 1 993
.0
Oct 11. 1 993
.6
Nov 8, 1 993
.7

Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

330

320

310

199A
Dec

6
13
20
27
Jan 3
10

200

280

Bill ons
32 0.9
32 0.6
321.4
321.7
323.5
323.9

— 290

2 16 30 14 28 11 25 8 22 8 22 5 19 3 17 31 14 28 12 26 9 23 6 20 4 18 1 15 29 13 27 10 24
Nov Dec Jan
Feb Mar Apr May Jun
Jul
Aug Sep Oct Nov Dec Jan
1992

1993

1994

Latest data plotted week ending: January 10, 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

280

6
Yields on Selected Securities

Percent

Percent

Averages of Daily Figures

9.0

9.0

- 'V
Corp orate
Aaa Jonde

•v w y ■o'

k

7.0

\
M unicfpal Bonds
NH

X S' /, \ ^ 4 ’

6.0

_____________ V

* — ** <• * X

\\

1
r*‘'
P fme Ba
'
L >on Rot -

7

,

■H

5.0

1.0

V
3.0

3.0
Cor nmerci<
Paper

2.0

6 20

4 18 I 15 29 12 28 12 28 9 23 7 21 4 18

Nov Dec
1992

Jan

Feb

Mar

Apr

May

Jun

2 16 30 13 27 10 24
Jul
1993

Aug

Sep

8 22 5 19 3 17 31 14 28
Oct
Nov Dec Jan
1994

Latest data plotted are averages of rates available for the week ending: January 21, 1994

1994

90—Day
CDs

30-Day
Commercial
Paper

90—Day
Bankers'
Acceptances

Corporate
Aaa Bonds

Corporate
Baa Bonds

Municipal
Bonds *♦

Oct 29
Nov 5
12
19
26
Dec 3
10
17
24
31
Jan 7
14
21 *

3.29
3.36
3.36
3.33
3.36
3.35
3.31
3.23
3.20
3.24
3.22
3.13
3.12

3.14
3.15
3.15
3.14
3.15
3.27
3.41
3.34
3.31
3.35
3.21
3.12
3.14

3.24
3.31
3.30
3.28
3.29
3.30
3.26
3.20
3.18
3.21
3.16
3.09
3.07

6.73
6.87
6.92
6.94
6.99
6.95
6.86
6.97
6.95
6.94
7.01
6.87
6.92

7.38
7.57
7.65
7.69
7.74
7.70
7.61
7.72
7.70
7.71
7.75
7.61
7.65

5.31
5.45
5.46
5.46
5.49
5.46
5.33
5.36
5.34
5.28
5.34
5.31
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
Prepared by Federal Reserve Bank of St. Louis


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

2.0

Selected Interest Rates

Percent

Averages of Daily Figures

S !0 4 IS I IS 29 I! 2J 12 2«
Nov Dec Jan
Feb Mar
1992

Percent

9 23 7 21 4 IJ 2 1$ 50 13 27 10 24 8 'll
Apr May Jun
Jul
Aug
Sep Oct

3 17 31 14 2!

1993

1994

Latest data plotted are averages of rates available for the week ending: January 21, 1994

1-Year
Treasury

Federal
Funds »♦

21

5-Yea
Treasui
Securities

Long-Term
Treasury
Securities

*

ssrs;n<i4c?SrSg5te.adr

™^s^»ecxoc^$i5ga:s?g-t*rm

«cur«i«

* Averages of rates available
JBVCH-UU/ uvoruycs iur weei
• Auction average (discount)


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

3560 -

1994

piiifona

Dec 6
13
20
27
Jan 3
10

3553.2
3552.2
3553.0.
3546.5
3552.9
3549.5

Billions of Dollars

2725

2625
M2 (left scale)

2525

2425
Non-M1 M2 (right scale)
Non-M1 M2

2 16 30 14 28 11 25 8 22
Nov Dec Jan
Feb

1994

Billions

Dec 6
13
20
27
Jan 3
10

2424.9
2426.0
2419.9
2412.3
2420.6
2419.1

22 5 19 3 17 31 14 28 12 26 9 23 6 20 4 18 1 15 29 13 27 10 24
Aug Sep Oct Nov Dec Jan
Mar Apr May Jun

2225

1994

1993

1992

2325

Latest data plotted week ending: January 10, 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 1/11/93 4/12/93 6/7/93 7/12/93 8/9/93
9/13/93 10/11/93 11/8/93
ending:
6/7/93
7/12/93
8/9/93
9/13/93
10/11/93
11/8/93
12/13/93
1/10/94

1.2
1.1
1.3
1.4
1.7
1.4
1.8
1.6


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

4.3
4.0
3.6
3.6
3.0
3.2
2.9

1.4
1.7
2.2
1.6
2.1
1.9

2.5
2.9
2.0
2.6
2.2

2.9
1.7
2.5
2.1

1.5
2.7
2.1

2.1
1.6

2.7

Prepared by Federal Reserve Bank of St Louis

Savings and Money Market Funds
Averages of Daily Figures

Billions of Dollars
1250
1----------1----------

no

Savings

1220

1190

-

1994

Billions

Dec 6
13
20
27
Jan 3
10

1217.6
1219.7
12 8.1
12 20.1
12 7.0
12 8.3

380

Saving • Dope•it* (left scak )

350

s
«*» —

V

mm

-<*

*—X

4

N.

---

USD
Mor ey Mar <«t (rig it seal ')

320
Mo ney Mearket

199 4

1100

giir ons

Dec

6
13
20
27
Jan 3
10
-l

1130

"■ i '

U

1 i ' rrl 1 M 1 ' 1 T* 1

r

PI r

” a n
u t Sep
a 4 Oct
11 I Nov
li 23 Dec
|j 27 IDJan21
Jun
Julu >Au9
1993
i qq/
Note: Savings deposits are at all depository institutions. Money market funds are general purpose
r r
and broker/rl«nlf»r
broker/dealer.
r,
ioo'j

,
Jan

■Feb
“

33 4.2
337.4 — 2)0
336.4
336.0
338.6
338.0
I

.Mar

Apr

2(0

May

Large and Small Time Deposits1 /
All Depository Institutions

Billions of Dollars

Billions of Dollars

400

l
Small
1994
Dec 6
13
20
27
Jan 3
10

370
Lan • Time (left s sale)

1
Time
Billions
785.5
784.3
782.7
78 2.5 —
78 2.4
77 9.9

340

1005

940

875
-_

310

280

La ■ge
123A
— Dec 6
13
20
27
Jan 3
10

«« --

Tinne
EiilJ ons
33 2.8 —
331.6
330.6
329.8
332.5
332.0

It 30 14 21 11 25
N°v Dec Jan
1992

< le _
< Small 1 me (rii ht sea e)

810

x—
—

D 22 8 22 5 ID 3 17 31 14 21 12 28 9 23 f 20
Feb Mar Apr May
Jun Jul
Aug Sep
1993

Latest data plotted week ending: January 10, 1994
1/ Large time deposits are those issued in denominations of $100,000 or more.


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

r** '7 ■
18
Oct

X

r t 1 i

m -» i
15 29 13 27 10 24
Nov Dec Jan
1994

Prepared by Federal Reserve Bank of St. Louis

9

745

10
Total Borrowings
From Federal Reserve Banks
Averages of Daily Figures

Billions of Dollars

Billions of Dollars

1994

Billions

Dec 15
22
29
Jan 5
12
19

4 11 1 It 30 13 27 10 2f
Nov
Dec Jan
Feb
1992

10 U 7 21
Mar Apr

0.058
0.060
0.045
0.237
0.018 ---0.128

S 1! 2 If 30 11 20 11 25 0 2! 0 20 3 17 1 15 2) 12 20
May Jun
Jul
Aug Sep Oct
Nov Dec Jan
1993
1994

Adjustment + Seasonal Borrowings
t-rom Hederal Reserve Banks
Averages of Daily Figures

Billions of Dollars

Billions of Dollars

1994
Dec 15
22
29
Jan 5
12
19

Nov

30 H 28 11 25 8 22

30 13 27 10 24 10 24 7 21 5 19 2

4 18 2
Dec

Jan

Feb

Mar

Apr

May

1992

Jun

Jul

1993

Aug

Sep

Billions
0.058
0.060
0.045
0.237
0.018 —
0.128

20 3 I7 1 15 29 12 26
Oct

Nov

Dec

Jan

1994

Latest data plotted week ending: January 19, 1994


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

Prepared by Federal Reserve Bank of St. Louis

Binjons of Donors
Commercial
jjjjj
|(i___________________
I
I------1994

Paper of Nonfinancial Companies
Not Seasonally Adjusted

Billions of Dollars

iso

Billions

Dec 8
15
22
29
Jan 5
.
12

155.963
158.038
154.292
148.612
149.414
152.603

^ ^^-A ^ ^
ISO

HO

»j

IS 30

N 7oooDeC
1992

3 17 10 24 (o 24
Jan

Feb

Mar

7 21 5 19 i IS JO U 28 II 25 8 22 6 IS
Apr

May

Jun Jul
1993

Au9

Sep

Oct

Latest data plotted week ending: January 12. 1994

120

3 17 I 15 29 12 2S
Nov Dec Jan
1994

Commercial and Industrial Loans'7
Weekly Reporting Large Commercial Banks 2/

Billions of Dollars

325
315
305
295

---------1-------- —

—

Compounded anni al
rates of change,
average of the fou r
weeks ending
January 5, 1994 fr om
the four weeks enc ing:
Jan 6, 1993 - 1.2
Apr 7, 1993
5.1
993 -1.4
Aug 4. 993 -0.8
Sep 8, 993 0.5
Oct 6. 993 0.0

199i

1 278.
8 277. 580

315

1 5 278. 350

2 2 280. 53
2 9 278. 396
5 279. 529

305
295

285

285

275
265

325

Billie ns

'fills d ata ref lect t ie curaulative effect s of me
rgers ind othier sttxcture :hanges
rJ
'! ' I J rJrJ
T-r-

Nov Dec
1992

Jan

PC'
-■
Feb Mar

Apr

May

‘

•>» ii “ ii IS 8 22 6 20 3___
17 1 15 29 12 2t
Jun
Jul
Aug Sep Oct
Nov Dec Jan
1993
igg4

Latest data plotted week ending: January 5, 1994
1/ Commercial and industrial loans include banker's acceptances and commercial paper.
2/ Banks with domestic assets greater than $1.4 billion
Prepared by Federal Reserve Bank of St. Louis


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Federal Reserve Bank of St. Louis

11

275
265

Dollar’s Trade-Weighted Exchange Index
1973=100

Averages of Daily Figures

3M 1973.= ISO
Dec 15
Jan 5

4 18 2 It 30 13 27 10 24 10 24 7 21 5 18 2 16 30 14 28 11 25
Nov Dec
1992

Jan

Feb

Mar

Apr

May

Jun
Jul
1993

Aug

Sep

Oct

Nov

15 28 12 26

Dec

Jan
1994

Latest data plotted week ending: January 19, 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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