Full text of U.S. Financial Data : January 28, 1988

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

ary 28, 1988

THE WEEK'S HIGHLIGHTS:
Real gross national product grew at an annual rate of 4.2 percent
in the fourth quarter, up 3.8 percent from fourth quarter 1986. Non
farm inventories rose sharply and exports continued to increase
strongly in the quarter.
^

The gross national product implicit price deflator rose at a 2.7 percent
ratein the fourth quarter, up 3.3 percent from fourth quarter 1986.
Personal income (not adjusted for inflation) increased at a 9.3 percent
rate in December, up 7 percent from December 1986.
New factory orders for durable goods rose a seasonally adjusted 6.7
percent in December. This was the fourth consecutive monthly
increase and the largest increase since a 6.9 percent rise in September
1986.

**

Sales of passenger cars produced in the United States totaled 186,385
for January 11-20, an increase of 31.7 percent from the daily selling
rate for the corresponding period in 1987.

the

FEDERAL
A RESERVE
HANK of
OrST.UHXS

expressed do not necessarily reflect official
Digitized views
for FRASER
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

positions of the Federal Reserve System.

2

ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES

SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS
27®

BILLIONS OF DOLLARS
-------------------- ----------- 276

—’—i---------- r—
BILLIONS
NOV.

18

266.9
267.5
267.5
271 .0
273.5

9 17 91

14 28 11

JAN

25 II

FEB

25

8 22

MAR

8 20

9 17

MAY

JUN

I

19 20 12 28

0 29

LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDINGt JANUARY 27,

7 21

4 18

OCT

NOV

2 16 90 19 27

JAN

10 24

FEB

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 REQU REMENT 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
COMPOUNDED ANNUAL RATES OF CHANGE,
AVERAGE OF TWO MAINTENANCE PERIODS ENDINGt
Z28/87

4/22/87

7/1/87

7/29/87

8/28/87

5.2
4.9
5.7
5.4
5.5
6.3
5.7
7. 1

3.4
4.9
4.6
4.9
6.0
5.3
7.2

7.0
5.8
5.9
7.3
6. 1
8.6

6.9
6.7
8.2
6.6
9.3

4.8
7.6
5.7
9.1

9/23/87 10/21/87

12/2/87

TO THE AVERAGE OF
TWO MAINTENANCE
PERIODS ENDINGt
7/ 1/87
7/29/87
8/26/87
9/23/87
10/21/87
12/ 2/87
12/30/87
1/27/88


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

9.2
6.4
10.4

6.5
11.7

12.0

PREPARED BY FEDERAL RESERVE BAf* OF ST. LOUIS

MONEY STOCK ( Ml )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
780 r----------- 1---------- ,------

BILLIONS OF DOLLARS
------ -----------------------i 780

BILLIONS
751.0
752.2
752. 1
756.6
758.2
761.5

1 13 29 12 26 9 23 Q 23
DEC
JAN
FEB
MAR
1986

6 20
APR

4 18
MAY

I I I I
15 29 13 27 10 24
JUN
JUL
AUG
1987

LATEST DATA PLOTTED WEEK ENDING: JANUARY 18,

7 21
SEP

3 19
OCT

2 16 30 14 26 II 23 6 22
NOV
DEC
JAN
FEB
1988

1988

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.
depoIitsEandMtraveler!nchecksd by the nonbank

pubuc’

demand

deposits' 0THER

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE,
1/19/87

4/20/87

4.0
2.0
2.7
2.4
3. 1
3.8
2.0
2.5

0.7
2.3
1.9
3.0
4.0
1.5
2.2

6/15/87

AVERAGE OF FOUR WEEKS ENDING]

7/20/87

8/17/87

3.8
5.3
6.5
2.0
3.0

4.2
6.2
0.7
2.2

9/21/87 10/19/87 11/16/87

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
6/15/87
7/20/87
8/17/87
9/21/87
10/19/87
11/18/87
12/21/87
1/18/88


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

-0.2
0. 1
2.0
3.5
0.4
1.5

9.7
0.7
2.6

-2.6
0.7

-3.4

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4

MONEY MULTIPLIERS
CURRENCY COMPONENT OF MONEY STOCK s
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO

RATIO

JAN.

II
Ml MULTIPLIER

I I I I
t

15 29 12 20

JAN

0 23

9 23

0 20

IS 29 13 2T

4 10

10 24

7 21

5 10

2

10 30 14 20 II

DEC

FEB

LATEST DATA PLOTTED TWO WEEKS ENDING! JANUARY II.

25

0 22

JAN

1988

BILLIONS OF DOLLARS

ILL IONS OF DOLLARS

------ ------------------------

-__COMPOUNDED ANNUAL RATES
_ OF CHANGE, AVERAGE OF
__ THE FOUR *EEKS FACING
JANUARY 18. 1988 FROM
~ THE FOUR wtEKS ENDING!

- NOV.
- OCT.
_ SEP.
_ AUG.
JUL.
“ APR.
—JAN.

16,
19
21,
17,
20,
20,
19,

1987
1987
1987
1987
1987
1987
1987

11.6
13.8
12.8
11.3
10.6
9.6
9.0

CURRENCY

1988
DEC.

BILLIONS -----

14
200:8
202.7
I I I I I I I I

I I I I
I

10 29 12 20

JAN

9 23

9 23

FEB

0 20

4 10

APR

MAY

I

15

LATEST DATA PLOTTED WEEK ENDING! JANUARY IS,

SEP

OCT

DEC

JAN

1988

I/ RATIO OF MOfCY STOCK (Ml I 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

2 06

TOTAL CHECKABLE DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
580 r------------ 1---------- ,------

LLIONS OF DOLLARS
1---------- -----------Z1 580

BULLIONS
544.8
545.8
544.4
547.9
549.6
551 .8

~ JAN

JAN

” “

FEB

APR

’

MAY

1

ls « 13

JUN

JUL

17

M

AUG

111

SEP

3 19

OCT

2

10 30 14 2A II

NOV

DEC

1987
LATEST DATA PLOTTED WEEK ENDING! JANUARY 18, 1S88

JAN

25

t

22

FEB

1988

DEPOSITORY* INST I TUT°ONSS 'S ™E SU“ 08 DEMAND DEPOSITS AND OTHER CHECKABLE DEPOSITS AT ALL

TOTAL CHECKABLE DEPOS ITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS

6/15/87
7/20/87
8/17/87
0/21/87
10/19/87
11/16/87
12/21/87
1/18/88

ENDING!

1/19/87

4/20/87

6/15/87

7/20/87

8/17/87

9/21/87 10/19/87 1I/IB/H7

2.6
0. 1
1.1
0.7
1.5
2. 1
-0.2
0.2

-1.5
0.6
0. 1
1.4
2.3
-0.9
-0.3

-2.4
-2.1
0.2
1.6
-2.4
-1.4

4.3
5.3
-0.6
0.3

2.8
4.5
-2.3
-1.0

8.6
“2.6
“0.8

TO THE AVERAGE
OF FOUR WEEKS
ENDING-.


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

-7.2
-3.5

-8.4

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

percent

ME By

5 IB

2

10 50 15 27 15 27

FEB

MAR

10 24

8 22

5

IB

5 17 51

14 28 11

AUG

APR

1986

25

8 25

SEP

0 20

4 18

NOV

DEC

1

15 2B 12 26

1987

1988

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: JANUARY 29,

1988
DEC.

JAN.

FEB.

4
1 1
18
25
1
8
15
22
29 X
5
12
19
26

1988.

90 DAY
CD'S

30-DAY
COMMERCIAL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
AM BONDS

CORPORATE
Bm BONDS

MUNICIPAL
BONDS MW

7.61
7.75
7.88
7.61
7.38
7.03
6.99
6.87
6.84

7.28
7.77
8. 18
7.90
7.45
6.85
6.80
6.75
6.69

7.41
7.64
7.69
7.41
7. 17
6.89
6.83
6.73
6.67

10.06
10.14
10. 19
10.08
10.06
10.00
10.00
9.88
9.71

11.23
11.30
11.36
11.28
1 1.24
11.22
11.19
11.02
10.90

7.90
8. 10
8.01
7.95
7.86
7.83
7.83
7.61
N. A.

NOTE: CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.15 RELEASE.
X AVERAGES OF RATES AVAILABLE
MW BOND BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA
N.A. - NOT AVAILABLE


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

---------- m—y

SELECTED

INTEREST RATES

AVERAGES OF DAILY RATES

PERCENT
1.0

5-yeaf

TREASURY

JRITIES

8.0

3-

TREAS

1Y BILL

DISCOUNT RATE

5

10

2

16 30 13 27

FEB

13 27 10 24

MAR

8 22

3 10

3 17 31

APR

14 28 II

AUG

25

0 23

SEP

8 20

4

NOV

DEC

18

1

15 20 12 26

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING; JANUARY 29, 1988.

1988
DEC.

4
1 1
18
25
JAN.
1
8
15
22
29 X
FEB.
5
12
t9
26

FEDERAL
FUNDS**

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL XX*

1-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

6.89
6.84
6.58
6.75
6.81
7.02
6.81
6.89
6.66

5.41
5.86
5.90
5.83
5.73
5.86
5.81
5.85
5.80

6. 12
6.42
6.45
6.48
6.32
6.35
6.33
6.37
6. 19

6.55
6.74
6.73
6.71
6.66
6.66
6.63
6.45
6.38

8.40
8.54
8.50
8.41
8.38
8.37
8.33
8.08
8.04

9.22
9.39
9.26
9.03
9.05
9.07
9.08
8.79
8.67

NOTE. CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.I5 RELEASE EXCLUDING LONG-TERM TREASURY
* AVERAGESUOF RATErAVAILABLE0^0™ BY ™IS BANK' TREASURY BILL YIELDS ARE ONA DISCOUNT BASIS.
^fXIA^Y AVERTS FOR WEEK ENDING TWO DAYS EARLIER THAN DATE SHOWN
AUCTI ON AVERAGE < DISCOUNT )


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

8
COMMERCIAL BANK
SMALL TIME DEPOSITS^
LARGE TIME DEPOSITS v
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
400 ------------- i---------- 1------

BILLIONS OF DOLLARS
------------------------------ 400

BILLIONS
385.0
-----JAN.

385.0
387.3
388.2

SMALL TIME DEPOSITS

LATEST DATA PLOTTED WEEK ENDING: JANUARY 18, 1988
BILLIONS OF DOLLARS

1.9.88
DEC.

BILLIONS OF DOLLARS
330

BILLIONS

14

325

323.4
LARGE TIME DEPOSITS

320

320.8

315

310

295

I

IS 20 12 26

JAN

0 23

0 23

FEB

0 20

4 18

APR

MAY

15 20 13 27

LATEST DATA PLOTTED WEEK ENDING: JANUARY 18,

10 24

7 21

5 10

SEP

OCT

2

16 30 14 28 11

DEC

25

8 22

JAN

1988

1/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN 8100,000
2/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF 8100,000 OR MORE


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

COMMERCIAL BANK
TOTAL TIME DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

DEC.

14

BILLIONS OF DOLLARS
900

885. I
885.5
885.8
887.7
886.3

888.0
870

1

IS 20 12 26

JAN

0 23

0 23

6 20

4 16

1

15 20 13 27 10 24

FEB

7 21

5 10

SEP

OCT

2

IS 30 14 28

DEC

II

25

8 22

JAN

1987
LATEST DATA PLOTTED WEEK ENDING: JANUARY 18,

1988

TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS, SMALL TIME DEPOSITS AND LARGE TIME DEPOSITS.

TOTAL TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE,

AVERAGE OF FOUR WEEKS ENDING.

1/19/87

4/20/87

6/15/87

7/20/87

8/17/87

8.6
8.5
8.0
7.2
7.2
8.6
8.8
8.3

9.8
8.7
7.3
7.2
9.3
9.4
8.7

6.7
5.2
5.6
8.7
8.9
8. 1

3.7
4.7
8.9
9.2
8.2

4.5
10. 1
10. 1
8.7

9/21/87 10/19/87 11/16/87

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
8/15/87
7/20/87
8/17/87
9/21/87
10/19/87
11/16/87
12/21/87
1/18/88


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

15.0
13.1
10.6

15.9
11.8

6.8

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS

1M
DEC.

BILLIONS

OF

DOLLARS

miLLBB.

23

586

6

2908

TOTAL BORROWINGS

LATEST DATA PLOTTED WEEK ENDINGt JANUARY 27,

1988

BILLIONS OF DOLLARS

1988

MILLIONS

8

3 17 91

BILLIONS OF DOLLARS

14 28 11

JAN

ADJUSTMENT + SEASONAL
BORROWINGS

2460

FEB

23 II

25

8 22

6 20

3 17

1

15 29 12 28

MAR

LATEST DATA PLOTTED WEEK ENDINGt JANUARY 27,


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

9 23

7 21

4 19

2 16 30 13 27 10 24

OCT

NOV

JAN

FEB

1988

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

*----------------- TT

COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
95 ------------- 1---------- ,------

ILL IONS OF DOLLARS
------ ----------- ----------- 95

DEC. 16
_ JAN.

78,287

6

3 17 31

14 28 II

JAN

FEB

25 II

25

8 22

MAR

8 20

3 17

MAY

JUN

I

LATEST DATA PLOTTED WEEK ENDING) JANUARY 20,

IS 20 12 28

9 23

7 21

4

OCT

NOV

18

2

18 30 13 27

JAN

10 24

FEB

1988

* 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
295 ---------- --------------------

BILLIONS OF DOLLARS
------1------------- 1---------- 295
COMPOUNDED ANNUAL RATES
OF
AVERAGE
OF
vr CHANGE.
bnnrwc,
rvcmwc
ur
THE
FOUR *EEKS
ENDING

28,
30,

1987
1987

29,

1987

31,

1986

NOV. 25
DEC. 2

5 19

3 17 31

14 28 11 23 11

JAN

FEB

MAR

25

8 22

8 20

3 17

MAY

JUN

LATEST DATA PLOTTED WEEK ENDING: DECEMBER 30,

I

15 29 12 28

9 23

_

4.9 ------

276,566
277,744
278,725
276,381
276,596

1.1 I I I I 1.1 I 1 1 I I I
7 21

4 18

OCT

NOV

2

18 30 13 27

1987

1/ BUSINESS LOANS INCLUDE BANKERS* ACCEPTANCES AND COMMERCIAL PAPER.
2/ BAWS WITH DOMESTIC ASSETS GREATER THAN 81.4 BILLION


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11