Full text of U.S. Financial Data : January 3, 1997
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ary 3,1997 t ty a HI m ia wot cialDafa THE WEEK'S HIGHLIGHTS: ■ The value of new construction put in place in November measured $592.0 billion, up 1.9 percent from October and the largest increase in eight months. The value of total construction, not adjusted for price changes, was up 7.7 percent from a year earlier. ■ The National Association of Purchasing Managers ’ (NAPM) index of manufacturing activity measured 54.0 percent in December, its highest level in six months. According to the NAPM, an index value of 50 generally indicates an expanding manufacturing sector. ■ New single family home sales were at an annual rate of 772,000 units in November, up 14.2 percent from October, but down 1 percent from September. On a year-to-date basis, actual new home sales have totaled 704,000 units, up 14.9 percent from the same period in 1995. ■ Advance new orders for manufactured durable goods fell 1.7 percent, or $2.9 billion, in November from their October level, the first decline in three months. New orders are not adjusted for price changes. ■ After showing no change in October, the index of leading indicators rose 0.1 percent in November. This index has not declined since January 1996. _________________ All dates are seasonally adjusted unless otherwise indicated, U.S. Financial Data is published weekly by the Research 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 on data, please call (314) 444-8590. To request an order form, please call (314) 444-8808 or (314) 444-8809. Sorry, no refunds. Information in this publication is also included in the Federal Reserve Economic Data (FRED) electronic bulletin board at (314) 621-1824 or internet World Wide Web server at http://www.stls.frb.org/fred. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2 Adjusted Monetary Base Averages of Daily Figures Seasonally Adjusted Billions of Dollars Billions of Dollars Billions 462.1 462.9 463.5 465.8 466.4 464.2 1 15 29 13 27 10 24 7 21 6 20 3 17 15 29 12 26 10 24 7 21 4 18 2 16 30 13 27 11 25 8 22 Sep Oct May Jun The adjusted monetary base is the sum of Federal Reserve deposits and voult cash held by domestic depository institutions, currency held by the public, ond an adjustment for the effect of chonges in reserve requirement rotios. The monetory base series wos recently revised to include Federol Reserve deposits used to satisfy cleoring balance contracts. Data are computed by this bonk. A detailed description of the odjusted monetary base is available from this bonk. Recent data are preliminary. Adjusted Monetary Base two maintenance* Compounded annual rotes of chonge, overage of two maintenance periods ending: 1/3/96 3/27/96 6/5/96 7/3/96 7/31/96 8/28/96 9/25/96 11/6/96 periods ending: 6/5/96 2.7 7/3/96 2.3 1.7 7/31/96 2.9 2.9 8/28/96 3.5 3.9 5.2 7.7 9/25/96 3.6 3.9 4.9 6.5 6.1 11/6/96 3.6 3.9 4.6 5.6 5.1 3.9 12/4/96 3.8 4.2 4.9 5.7 5.4 4.6 4.8 1/1/97 3.7 3.9 4.4 5.1 4.7 4.0 3.9 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3.6 Prepared by Federal Reserve Bonk of St. Louis Money Stock(M1) and Total Checkable Deposits Averages of Daily Figures Seasonally Adjusted Billions of Dollars Nov 16 1170- Dec 2 Billions of Dollars Billions 1075.7 1074.0 1087.7 1070.8 1072.9 1079.0 Nov 18 Billions 675.2 672.9 ..... 682.4 666.3 668.9 675.4 M1 (left scole) TCD (right scole) Apr Moy Jun Aug Sep Oct 1997 Ml is the sum of currency held by the nonbonk public, demand deposits, other checkable deposits and travelers checks. Total checkoble deposits is the sum of demand deposits ond other checkable deposits at depository institutions. Current data appear in the Federal Reserve Board's H.6 release. Money Stock (M1) To the overage of four weeks ending: Compounded onnuol rates of chonge, overoge of four weeks ending: 12/25/95 3/25/96 5/20/96 6/24/96 7/22/96 5/20/96 -1.3 7/22/96 -2.5 -5.4 -4.7 8/26/96 -3.2 -5.7 -5.5 9/23/96 -3.8 -6.2 -6.3 -8.7 -7.8 10/21/96 -5.1 -7.8 -8.3 -10.7 9/23/96 10/21/96 -1.6 6/24/96 8/26/96 -10.8 -8.4 -3.7 -8.6 11/25/96 -4.8 -7.0 -7.2 -8.8 12/23/96 -4.2 -5.9 -5.9 -7.0 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -6.3 Prepared by Federol Reserve Bonk of St. Louis 3 4 Adjusted Reserves Seasonally Adjusted Billions of Dollars BillionsofDollors Billions 15 29 13 27 10 24 7 21 6 20 3 17 1 Feb Mor Apr 15 29 12 26 10 24 7 21 4 18 2 16 30 13 27 II 25 8 22 Aug Sep Oct Jun May Adjusted reserves is the difference between the adjusted monetary base ond the currency component of Ml. The adjusted monetary bose series wos recently revised: See the footnote to the monetory base chart for o description of the change. Adjusted Reserves Compounded annual rotes of change, overoge of two maintenance periods ending: To the overoge of two maintenance periods ending: 12/20/95 3/13/96 5/22/96 6/19/96 7/17/96 8/14/96 9/11/96 10/23/96 5/22/96 -3.7 6/19/96 -2.6 -5.3 7/17/96 -2.3 -4.1 1.8 8/14/96 -3.8 -6.1 -4.0 -7.5 9/11/96 -3.6 -5.4 -3.4 -5.7 -8.4 10/23/96 -6.2 -8.6 -8.6 -11.1 -14.1 -13.9 11/20/96 -6.0 -8.1 -7.9 -9.8 -11.8 -11.1 -14.5 12/18/96 -4.7 -6.3 -5.5 -6.8 -8.0 -6.5 -7.8 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3.7 Prepored by Federol Reserve Bank of St. Louis Money Multiplier Averages of Daily Figures Seasonally Adjusted Ratio Rotio Compounded onnuol rates of change, average of the four weeks ending December 16, 1996, from the four weeks ending: Dec 18. 1995 -8.0 Mar 11, 1996 -9.3 Jun 17, 1996 -12.3 J uI 15. 1996 - 12.0 Aug 12. 1996 -12.2 Sep 9. 1996-11.1 Oct 21. 1996 -6.5 Oct 7 Dec 2 8 2 Apr 1995 Ratio of M1 to the adjusted monelory base. May Jun Sep !.321 2.8 16 30 13 27 Oct 1996 1997 Currency Component of M1 Billions of Dollars Averages of Daily Figures seasonally Adjusted Billions of Dollars Compounded annuol rotes of change, average of the four weeks ending December 23, 1996, from the four weeks ending: Dec 25. 1995 6. Mar 25. 1996 7. Jun 24. 1996 9. Jul 22. 1996 9. Aug 26. 1996 8. Sep 23. 1996 9. Oct 2 1. 1 996 9. Billions Nov 18 Dec May Jun 1995 1996 Current doto appear in the Federal Reserve Board's H.6 release. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2 391.9 392.4 396.6 395.8 395.4 395.2 igg7 Prepared by Federal Reserve Bank of St. Louis 5 -580 6 Yields on Selected Securities Averages of Daily Figures Percent Prime Rote Corporate Aaa Bonds Municipal Bonds Commercial Paper 3 17 1 15 29 12 26 9 23 B 22 5 19 3 17 31 14 2B 12 26 9 23 6 20 4 1995 1996/97 Oct 11 18 25 Nov 1 8 15 22 29 Dec 6 13 20 27 Jon 3 18 is 29 13 27 10 24 1996 1997 30-Day Commercial Poper 90-Day CDs 90-Day Bankers' Acceptances Corporate Aoo Bands Corporate Baa Bonds 5.36 5.35 5.36 5.37 5.38 5.39 5.40 5.42 5.53 5.57 5.73 5.88 5.96 5.40 5.40 5.40 5.39 5.38 5.37 5.38 5.38 5.40 5.42 5.44 5.50 5.46 5.35 5.32 5.31 5.30 5.30 5.30 5.28 5.29 5.30 5.33 5.39 5.40 5.36 7.43 7.40 7.39 7.28 7.18 7.08 7.05 7.06 7.10 7.21 7.28 7.22 7.18 8.10 8.08 8.07 7.96 7.86 7.75 7.75 7.75 7.79 7.90 7.97 7.91 7.86 Municipal Bonds •• 5.73 5.72 5.75 5.70 5.67 5.60 5.55 5.54 5.57 5.66 5.67 5.66 NA Current data are from the Federal Reserve Board's H.15 release, and are overoges of rotes available for the week ending on January 3, 1997 •• Bond Buyer's Average Index of 20 municipal bonds, Thursday data NA - Not Available http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federal Reserve Bank of St. Louis Selected Interest Rates Averages of Daily Figures Percent Percent 30-Year Treasury Securities rederal Funds Rate Discount Rate 3 17 1 15 29 12 26 9 23 8 22 5 1996/97 Oct 11 18 25 Nov 1 8 15 22 29 Dec 6 13 20 27 3 • Jon Federol Funds •• 5.14 5.22 5.22 5.27 5.32 5.21 5.41 5.30 5.52 5.22 5.38 5.18 5.37 19 3 “.... 3-Month Treasury Bill 17 31 14 28 12 26 9 23 6 20 4 18 1 15 29 13 27 3-Month Treasury Bill 1 -Yeor Treasury Bill 5-Year Treasury Securities 10-Year Treasury Securities 30-Year Treasury Securities 4.98 5.00 5.00 5.03 5.03 5.03 5.03 5.02 4.92 4.83 4.88 4.97 5.02 5.26 5.26 5.26 5.18 5.15 5.13 5.13 5.13 5.14 5.17 5.22 5.20 5.20 6.30 6.28 6.29 6.15 6.05 5.97 5.94 5.90 5.92 6.06 6.15 6.12 6.16 6.55 6.54 6.55 6.42 6.30 6.18 6.16 6.12 6.15 6.31 6.40 6.34 6.37 6.83 6.83 6.83 6.71 6.57 6.45 6.43 6.41 6.43 6.56 6.63 6.58 6.60 Current data oppeor in the Federal Reserve Boord's H.15 release. • Averoges of rates available •• Seven-day averages for week ending two days eoriier than date shown http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federal Reserve Bonk of St. Louis 7 - 5.0 8 Money Stock(M2) and Non-M1 Components of M2 Averages of Daily Figures Seasonally Adjusted Billions of Dollars Nov 18 3800' Dec 2 Billions 3797.1 3792.3 3813.1 3822.2 3822.6 3831.0 Billions of Dollars M2 (left scole) Non-M1 M2 (right scole) 6 20 4 18 I 15 29 12 26 II 25 8 22 6 20 3 17 Feb Mar Apr May Non-M1 M2 Billions Nov 18 2721.* 2718.3 Dec 2 2725.4 2751.4 2749.7 2752.0 15 29 12 26 9 25 7 21 4 Jun Jul Aug Sep Oct 18 2 Nov 16 30 13 27 Dec 1996 M2 is the sum of M1, savings (including money market deposit occounts), small time deposits ond retail money funds. Current doto appear in the Federal Reserve Board's H.6 release. Money Stock (M2) Compounded annual rotes of change, overage of four weeks ending: To the overaqe of four weeks ending: 5/20/96 12/25/95 3/25/96 5/20/96 6/24/96 7/22/96 8/26/96 9/23/96 10/21/96 4.4 6/24/96 4.5 1.6 7/22/96 4.1 1.6 3.4 8/26/96 4.1 2.1 3.5 9/23/96 4.0 2.3 3.6 3.0 3.8 10/21/96 3.8 2.2 3.2 2.6 3.0 2.5 11/25/96 4.1 2.9 3.9 3.7 4.2 4.3 12/23/96 4.6 3.7 4.8 4.7 5.3 5.8 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2.7 Prepared by Federal Reserve Bonk of St. Louis Savings and Small Time Deposits Averages of Daily Figures Seasonally Adjusted Billions of Dollars Billions of Dollars Small Time 1996 Billions Nov 18 946.6 947.8 948.9 949.1 949.2 948.5 Small Time (left scale) Sovings Billions 1257.6 1252.7 Dec 2 1258.6 1274.7 1273.0 1271.7 1996 Savings Deposits (right scale) 3 17 Apr May Jun I 15 29 12 26 9 23 7 21 4 Jul Aug Sep IS 2 16 30 13 27 Oct 1996 Sovings deposits ond small time deposits are ot all depository institutions. Large Time Deposits and Retail Money Funds Averages of Daily Figures seasonally Adjusted Billions of Dollars Large Time 1996 Nov 18 480.8 Billions of Dollars Retoil Money 1996 Billions Nov 18 25 517.8 487.3 490.0 492.4 496.6 527.5 527.5 531.8 Retail Money Large Time Apr May Jun IS 29 12 26 9 23 7 21 4 Aug Sep Oct 18 2 16 30 13 27 1995 1996 1997 Lorge time deposits ond retail money funds are at all despository institutions. Large time deposits ore those issued in denominations of Si00,000 or more. Retail money funds were originally called general purpose ond broker/dealer money morket funds. Prepared by Federal Reserve Bonk 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 Pallors Nov 27 Dec 4 1 0.317 0.374 Jon Billions of Dollars 0.153 0.188 0.097 1 15 29 13 27 10 24 7 21 6 20 3 17 1 15 29 12 26 10 24 7 21 4 18 2 16 30 13 27 11 25 8 22 Nov Dec Jon Feb Mor Apr Moy Jun Jul Aug Sep Oct Nov Dec 1995 1996 Borrowings include seasonal, adjustment and extended credit. 1997 Bank Loans and Credit All Commercial Banks in the United States’^ Seasonally Adjusted Billions of Dollars Bank Credit Billions Nov 13 3742.5 3736.1 3778.9 Dec 4 3754.0 3766.2 3766.7 Billions of Dollars 2880 2820 Bank Credit (left scale)2/ 2760 2700 Loons&Leoses Billions Nov 13 2761.8 2753.6 2781.6 2763.1 2770.2 2772.6 t—H ■ . Loans and Leases (right scale) 15 29 13 27 10 24 7 21 6 20 3 17 1 IS 29 12 26 10 24 7 21 4 18 2 16 30 13 27 11 25 8 22 Sep 1995 1996 Current data appear in the Federal Reserve Board's H.8 releose. 1/ Includes foreign-related institutions 2/ Includes loons and leases and securities http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Oct 1997 Prepared by Federal Reserve Bank of St. Louis 2640 2580 Commercial Paper of Nonfinancial Companies Not Seasonally Adjusted 1996 Nov 20 27 Dec 4 11 25 Billions 105.780 184.732 182.256 178.392 IEI&234 -» r ■ 15 29 13 27 10 24 7 21 Nov Dec Jon Feb 6 20 3 17 Mor Apr 15 29 12 26 10 24 7 21 May Jun Jul Aug 1995 1 18 2 16 30 13 27 11 25 8 22 Sep Oct Nov Dec Jon 1996 1997 Commercial and Industrial Loans Seasonally Adjusted 3illions of Dollars Billions 774.2 772.7 780.5 778.9 785.7 785.4 780- Billions of Dollars - 400 All Bonks (left scale)1/ Large Bonks (right scale) 2/ Large Bonks 196 Billions Nov 13 379.5 379.3 382.8 382.4 382.5 382.2 1 15 12 26 10 24 7 21 1995 18 2 16 30 13 27 11 25 8 22 1997 Current data appear in the Federol Reserve Board's H.8 release. 1/ Includes foreign-related institutions 2/ Weekly reporting, domesticolly chartered banks http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4 - 340 11 Prepared by Federol Reserve Bank of St. Louis Dollar's Trade - Weighted Exchange Index Averages of Doily Figures 1973=100 1973=100 Nov 27 fee 4 Jon 1 Current doto appear in the Federal Reserve Board's H.10 release. Data ore weighted averages of the foreign-currency price of the U.S. dollor, computed using 10 industrial country currencies. Prepared by Federol Reserve Bonk of St. Louis 3 05 CD J 0) http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis