Full text of U.S. Financial Data : July 29, 1993

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fiUG C 2 1993
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THE WEEK'S HIGHLIGHTS:
*/ Real gross domestic product (GDP) advanced at a 1.6 percent
annual rate in the second quarter of1993 after rising at a 0.7
percent rate in the first quarter. Real GDP has risen for nine
consecutive quarters and was up 2.6 percent from its level during
the second quarter of1992.
The implicit price deflator for GDP rose at a 2.6 percent annual
rate in the second quarter of 1993following a 3.3 percent rate of
increase in the first quarter. The deflator was up 2.6 percent from
its level during the second quarter of1992.

✓ Manufacturers’ new orders for durable goods rose 3.8 percent in
June after falling 2.4 percent in May and 0.1 percent in April. New
orders for the first six months of 1993 were up 8.1 percent from the
same period in 1992.

✓ Existing home sales increased 1.9 percent in June after climbing
4.9 percent in May. Existing home sales during May and June
were up 8 percent from 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
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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.

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

2
Adjusted Monetary Base
Averages ot Daily Mgures
Seasonally Adjusted

Billions of Dollars

410 -

1993

Billions

May 12
26
Jun 9
23
Jul 7
21

399.1
403.7 ■
404.5
404.4
406.2
411.0

Billions of Dollars

3 17 1 15 29 12 26 9 23 7 21 4 18 2 16 30 13 27 10 24 10 24 7 21 5 19 2 16 30 14 26
Jun

Jul

Aug

Sep
Oct
Nov
Dec
Jan
Feb Mar
Apr
May
Jun
Jul
Aug
1992
1993
Latest data plotted reserve maintenance period ending: July 21,1993
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
adjustrnent 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
lo the average of
two maintenance
periods ending:
12/23/92
1/20/93
2/17/93
3/17/93
4/14/93
5/26/93
6/23/93
7/21/93

Compounded annual rates of change, average of two maintenance periods ending:
7/22/92 10/14/92 12/23/92 1/20/93 2/17/93 3/17/93 4/14/93 5/26/93

12.6
12.3
13.8
11.5
10.8
11.5
11.4
11.6


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

9.1
12.4
9.1
8.5
9.9
9.9
10.3

17.2
9.4
8.4
10.4
10.4
10.9

9.0
7.8
10.5
10.5
11.0

0.3
6.8
7.6
8.7

11.6
11.3
11.9

Prepared by Federal Reserve Bank of St. Louis

Money Stock (Ml) and Total Checkable Deposits
Averages of Dally figures
Seasonally Adjusted

Billions of Dollars

1993

Billions of Dollars

M1
Billions

-Jun 14
21
28
Jul 5
12
19

1070.6
1075.3
1076.5
1077.9
1085.3
1085.3

(right scale)

TCD

M1 (left scale)

1 15 29 13 27 10 24 7 21 5 19 2 16 30 14 28 11 25
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

1993

Billions

Jun 14
21
28
Jul 5
12
19

756.2
759.5
759.6
761.8
768.8
768.4

22 8 22 5 19 3 17 31 14 28 12 26 9 23
Feb

Mar

1992

Apr

May

Jun

Jul

Aug

1993

Latest data plotted week ending: July 19, 1993
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)
Compounded annual rates of change, average of four weeks ending:
To the average 7/20/92 10/19/92 12/21/92 1/18/93 2/22/93 3/22/93 4/19/93 5/17/93
of four weeks
ending:
12/21/92
1/18/93
2/22/93
3/22/93
4/19/93
5/17/93
6/21/93
7/19/93

17.0
15.6
13.3
12.0
11.5
12.5
13.0
12.8


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

13.0
9.8
8.4
8.3
10.1
11.1
11.0

4.7
4.0
4.8
8.1
9.7
9.8

2.1
3.7
8.0
9.9
10.0

4.9
10.6
12.5
12.0

14.9
15.7
14.4

Prepared by Federal Reserve Bank of St. Louis

3

4
Adjusted Reserves
Billions of Dollors

Seasonally Adjusted

1993

Billions

May 12
26
Jun 9
23
Jul 7

96.4
99.6
99.3
97.4
97.7

21

Jul

Bi||jDns of Do,|ars

102.2

Aug

Sep

Oct

Nov

Dec

Jan

2 16 30 H 21 11 25
Feb

Mar

Apr

May

Jun

Jul

Aug

1993
Latest data plotted two weeks ending: July 21, 1993
Adjusted reserves is the difference between adjusted monetary base and currency component of Ml.

Adjusted Reserves
To the average of
two maintenance
periods ending:
12/23/92
1/20/93
2/17/93
3/17/93
4/14/93
5/26/93
6/23/93
7/21/93

Compounded annual rates of change, average of two maintenance periods ending7/22/92 10/14/92 12/23/92 1/20/93

16.1
14.7
23.0
13.2
10.3
14.2
13.4
14.2


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

9.7
24.5
9.3
5.8
11.8
11.1
12.2

44.2
8.1
2.8
12.3
11.2
12.8

8.6
1.4
13.5
12.0
13.7

2/17/93

-26.7
-2.6
-0.9
3.1

3/17/93

4/14/93

5/26/93

17.5
14.0
16.0

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
July 19, 1993 from
the four weeks ending:
Jul 20. 1992 1.2
Oct 12, 1992 0.9
Jan 18, 1993 -0.8
Feb 15, 1993 2.2
Mar 15. 1993 2.7
Apr 12, 1993 1.8
May 24. 1993 1.0

May 10

I 15 29 13 27 10 24 7 21 5 19 2 16 30 14 28 11 25 8 22
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Jun

7

Jul

5

2.657
2.643
2.655
2.654
2.652
2.641

22 5 19 3 17 31 14 28 12 26 9 23
Mar

Apr

1992
Latest data plotted two weeks ending: July 1 9, 1993

May

Jun

Jul

Aug

1993

Currency Component of M12/
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Compounded annual
rates of change,
average of the four
weeks ending
July 19, 1993 from
the four weeks ending:
Jul 20, 1992 10.8
Oct 19, 1992 10.0
Jan 18, 1993 10.3
Feb 22, 1993 10.6
Mar 22, 1993 10.7
Apr 19, 1993 10.9
May 17, 1993 11.8

1993

Billions

Jun 1 4

306.3
307.7

Jul

5

308.9
308.2
308.6
309.0

rr-frr

1 15 29
Jun

13 27 10 24 7 21

5 19 2 16 30 14 28 11 25

8 22 8 22 5 19 3 17 31 14 28

12 26 9 23

Jul

Oct

Feb

Jul

Aug Sep

Nov

Dec

Jan

1992

Mar

Apr

May

Jun

Aug

1993

Latest data plotted week ending: July 19, 1993
1 / Ratio of Ml 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

6
Yields on Selected Securities
Averages of Daily Figures

Aoa Bonds

Prime Bonk
Loan Rate

5 II
Jun

3 17 31 14 !l II 25 I !3 I !0 I II
Jul

Aug

Sep

Oct

Nov

Dec

1 15 2! I! 21 I! 21 I 23
Jan

Feb

Mar

Apr

7 21 I 18
May

Jun

1992
1993
Latest data plotted are averages of rates available for the week ending: July 30, 1993

1993
May

7
14
21
28
Jun 4
11
18
25
Jul 2
9
16
23
30 *

90-Day
CDs

30-Day
Commercial
Paper

90-Day
Bankers'
Acceptances

Corporate
Aaa Bonds

Corporate
Baa Bonds

Municipal

3.06
3.07
3.12
3.16
3.21
3.25
3.17
3.21
3.18
3.16
3.14
3.16
3.18

3.08
3.09
3.11
3.15
3.18
3.20
3.18
3.20
3.20
3.16
3.13
3.14
3.15

3.03
3.04
3.07
3.12
3.16
3.21
3.13
3.16
3.13
3.12
3.10
3.14
3.14

7.37
7.41
7.48
7.46
7.39
7.38
7.32
7.29
7.24
7.22
7.16
7.17
7.17

8.13
8.18
8.28
8.27
8.16
8.13
8.06
8.01
7.96
7.96
7.90
7.93
7.99

5.71
5.69
5.77
5.73
5.67
5.68
5.61
5.57
5.55
5.55
5.50
5.61
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

' ■ -

Selected Interest Rates
Percent

Averages of Daily Figures

5 19 3 17 31 14 28 11 25 9 23 6 20 4 18 1 15 29 12 26 12 26 9 23 7 21
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

1992

Apr

May

Jun

Jul

Aug

1993

Latest data plotted are averages of rates available for the week ending: July 30, 1993

1993
May

7
14
21
28
Jun 4
11
18
25
Jul 2
9
16
23
30 *

Federal
Funds **
2.98
2.90
3.01
3.07
3.09
2.96
3.01
3.00
3.13
3.10
3.01
3.09
3.03

3—Month
Treasury
Bill

6—Month
Treasury
Bill ***

5-Year
Treasury
Securities

Long-Term
Treasury
Securities

2.98
3.11
5.05
6.55
2.99
3.14
5.10
6.58
3.10
3.26
5.28
6.72
3.19
3.39
5.36
6.71
3.22
3.44
5.29
6.62
3.30
3.46
5.32
6.60
3.19
3.33
5.19
6.51
3.19
3.37
5.18
6.44
3.14
3.29
5.04
6.34
3.10
3.28
5.03
6.34
3.14
3.27
5.00
6.25
3.15
3.37
5.15
6.30
3.24
3.46
5.25
6.38
Current data appear in the Federal Reserve Board's H.15 release excluding long-term Treasury securities
which are computed by this bank. Treasury bill yields are on a discount basis.
* Averages of rates available
** Seven-day averages for week ending two days earlier than date shown
*** Auction average (discount)
Prepared by Federal Reserve Bank of St. Louis


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

2.87
2.91
2.99
3.06
3.06
3.10
3.05
3.09
3.01
3.02
3.02
3.07
3.09

1 —Year
Treasury
Bill

7

8
Money Stock (M2) and Non-M1 Components of M2
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

M2
1993

Billions

Jun 14
21
28
Jul 5
12
19

3516.2
3514.3
3503.6.
3502.4
3516.4
3517.2

(left scale)

Non-M1 M2 (right scale)

Non-M1 M2
1993 Billions
Jun 14
21
28
Jul 5
12
19

2445.6
2439.0
2427.1
2424.5
2431.1
2431.9

1 15 29 13 27 10 24 7 21 5 19 2 16 30 14 21 11 25 8 22 8 22 5 19 3 17 31 14 21 12 26 9 23
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

1992

Apr

May

Jun

Jul

Aug

1993

Latest data plotted week ending: July 19, 1993
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 7/20/92 10/19/92
12/21/92 1/18/93 2/22/93 3/22/93 4/19/93 5/17/93
ending:
12/21/92
1/18/93
2/22/93
3/22/93
4/19/93
5/17/93
6/21/93
7/19/93

2.6
1.8
0.7
0.6
0.5
1.1
1.7
1.4


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

0.5
-0.9
-0.9
-0.8
0.3
1.2
0.9

-3.8
-2.9
-2.2
-0.4
0.9
0.6

-2.9
-2.0
0.1
1.6
1.1

-0.4
2.1
3.4
2.5

3.7
4.8
3.3

6.9
4.2

2.9

Prepared by Federal Reserve Bank of St. Louis

»

Savings and Money Market Funds
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars
1250
I----------1---------Savings
1993 Billions
Jun 14
21
28
Jul 5
12
19

1220

Billions of Dollars

920

1201.3
1197.7__
119 8.3
119 8.8
120 1.9
120 0.0

390

1190

3(0
>. — ■ k
■ **• «ta

ta

—

\ _ . »-N

11(0

It oneyk arkot right s

mo
1100

___
cale)

Jun

33 3.3
336.1
333.6
333.0
336.3
336.0
_____i_____

I 2! 1 22 5 11

3 17 31 H 21

12 21 9 23

Feb

May

Jul

4
21
28
Jul 5
12
19

I 15 !! 13 23 11 24 7 21 5 U 2 It 31 19 21 11 25
Jul

Aug

Sep

Oct

Nov

Dec

330

Mo ney Meirket
199 i pill’ ons

Savin ga Dap oatta (I eft sea e)

Jun

*

Jan

Mar

Apr

Jun

270

Aua

.
. 1992
1993
Note: Savings deposits are at all depository institutions. Money market funds are general purpose
and broker/dealer.

Large and Small Time Deposits1 /
All Depository Institutions
Averages of Daily Figures, Seasonally Adjusted

Billions of Dollars

915

Billions of Dollars
1
1
Small Time
1993 Billions
Jun 14
21
28
5
12
19

385

10(5

831.0
829.3
826.5
82 4.0 --82 2.1
82 0.5

I*
Vs

ne (lef

L

355

935

>

325

295

Lar ge
199 3
— Jun 14
21
28
Jul 5
12
19

Tinrie
millons
34
34 2.2
341 0.5
34 0.0
33 B.6
33 5.4

• •> _

870
•ta

--.
ta, ^

I 15 21 13 27 10 29 7 21 5 11 2 It 30 19 21 11 25
Jul

Aug

taw w,

; maim ma (rig ht seal 0

U

Jun

, '—%

Sep

Oct

Nov

Dec

Jan

1992

8 22 1 22 5 11 3 17 31 19 21 12 25 9 23
Feb

Mar

Apr

May

Jun

Jul

Aua

1993

Latest data plotted week ending: July 19, 1993
1/ Large time deposits are those issued in denominations of $100,000 or more.


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

Prepared by Federal Reserve Bank of St. Louis

9

805

10
Total Borrowings
From Federal Reserve Banks
Averages of Daily Figures

Billions of Dollars

Billions of Dollars

1993

Billions

Jun 23
30
Jul 7
14
21
28

0.179
0.387
0.234
0.208
0.232
0.235

—

0.6

3 17 1 15 23 12 26 9 23 7 21 4 18 2 16 30 13 27 10 24 10 24 7 21 5 19 2 16 30 14 28
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

1992

May

Jun

Jul

Aug

1993

Adjustment + Seasonal Borrowings
l-rom hederal Reserve Banks
Averages of Daily Figures

Billions of Dollars

Billions of Dollars

1993

Jun 23
30
Jul 7
14
•
21
28

3 17
Jun

1

15 29 12 26 9 23 7 21 4 II 2 16 30 13 27
Jul

Aug

Sep

Oct

Nov

Dec

1992

Jan

Billions

0.179 ~
0.387
0.234
0.208
0.232 —
0.235

10 24 10 24 7 21 5 19 2 16 30 14 28 11 25
Feb

Mar

Apr

May

Jun

Jul

Aug

1993

Latest data plotted week ending: July 28, 1993


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

Prepared by Federal Reserve Bank of St. Louis

Commercial Paper of Nonfinancial Companies

Billions of Dollars

Billions of Dollars

Not Seasonally Adjusted

1993

Billions

Jun 16
23
30
Jul 7
14
21

164.030
158.093
153.056
159.680
158.040
159.261

3 17 I 15 29 12 26 9 23 7 21 9 18 2 16 30 13 27 10 26 10 24 7 21 5 19 2 16 30
Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

28 11 25

May

Jul

Aug

Latest data plotted week ending: July 21, 1993

Commercial and Industrial Loans'7
Weekly Reporting Large Commercial Banks2/
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Compounded annual
rates of change,
average of the four
weeks ending
July 14, 1993 from
the four weeks ending:
Jul 15, 1992 -2.5
Oct 14, 1992 -3.0
Jan 13, 1993 -2.0
Feb 17, 1993 -2.7
Mar 17, 1993 -1.3
Apr 14, 1993 2.9
May 12. 1993 5.8

3 17
Jun

1

15 29 12 26 9 23
Jul

Aug

Sep

15S3
Jun

9
16
23
30
Jul 7
14

7 21 4 18 2 16 30 13 27 10 24 10 24 7 21 5 19
Oct

Nov

Dec

Jan

1992

Feb

Mar

Apr

May

unions
273.708__
275.565
274.678
275.802
275.007
272.913.

2 16 30 14 28 11 25
Jun

Jul

Aug

1993

Latest data plotted week ending: July 14, 1993
1/ Commercial and industrial loans include banker's acceptances and commercial paper.
2/ Banks with domestic assets greater than $1.4 billion
„
, .
'
y
Prepared by Federal Reserve Bank of St. Louis


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

11

Dollar’s Trade-Weighted Exchange Index
Averages of Daily Figures

1993 1973=100

3 17 I 15 29 12 26
Jul

Aug

23 7 21 4 18 2 1$ 30 13 27 10 24 10 24 7 21 5 19 2 16 30 14 28 11 25

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Latest data plotted week ending: July 28, 1993
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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