Full text of U.S. Financial Data : March 11, 1993

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

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HIGHLIGHTS:

*/ The civilian unemployment rate was 7 percent in February, down
from 7.1 percent in January and 7.7percent in June 1992.
Retail sales rose at a 3.2 percent annual rate in February. Sales
during the past three months were up 6.7 percentfrom the same
period a year earlier. These data are not adjustedfor inflation.
Consumer installment credit rose at a 1.5 percent annual rate in
January. This marked the fifth consecutive month that credit has
increased, after seven straight months of decline.
✓ Business productivity (output per hour) grew at a 4.7 percent annu­
al rate during fourth quarter 1992 after increasing 3.2 percent in
the third quarter. The fourth-quarter increase was the largest since
first quarter 1986.
Data for the monetary base, adjusted bank reserves and
the money multiplier have been revised beginning with the
reserve maintenance period ending November 25 to correct an
error in the reestimation of seasonal factors. We apologize for
any inconvenience.
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.

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

2
Adjusted Monetary Base
Billions of Dollars

Billions of Dollars

Seasonally Adjusted

1993
- Dec 23

Billions

Feb 3

385.5
387.8
387.7
391.2

Mar 3

395.2

Jan

Feb

Mar

Apr

May

Jun
Jul
Aug
Sep
0
Feb Mar
1992
Latest data plotted reserve maintenance period ending: March 3. 1993
moP$a'y>a*e 19 ^e sum of reserve accounts of financial institutions at Federal Reserve banks
(currency held by the public and in the vaults of all depository institutions) and on
'
rS*?rve requirement ratio changes. The major source of the adjusted monetary base is Federal
avaikibteCfrom this bank* comPu*e^ by this banK. A detailed description of the adjusted monetary base is
Recent data are preliminary.

Actuated Monetaiy Base
Compounded annual rates of change. average of two maintenance periods ending:
To the average of v|/92 5/27/92 8/5/92
y '
9/2/92 9/30/92 10/28/92 12/9/92
1/6/93
two maintenance
periods ending:

T.

8/5/92
9/2/92
9/30/92
10/28/92
12/9/92
1/6/93
2/3/93
3/3/93

7.5
8.3
9.5
10.1
9.9
9.7
9.7
10.9


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

8.7
10.7
11.3
10.8
10.4
10.3
11.8

15.4
15.0
13.0
11.9
11.6
13.4

16.0
12.9
11.7
11.3
13.4

11.1
10.0
10.0
12.7

8.3
8.8
12.3

8.6
14.0

Prepared by Federal Reserve Bank of St Louis

•

•

Money Stock (Ml) and Total Checkable Deposits

Billions of Dollars

Averages ot uany figures
Seasonally Adjusted

Billions of Dollars

M1
1993 Billions
Jan 25 1033.8
Feb 1 1034.5
8 1030.0
15 1031.2
22 1034.7 .
Mar 1 1036.5

-TCD (right scale)

(left scale)
1993

TCD
_
Billions

Jan 25
Feb 1
8
15
22
Mar 1

Jan

Feb

Mar

Apr

May

Jun
Jul
1992
Latest data plotted week ending: March 1, 1993

Aug

Sep

Oct

Nov

Dec

Jan

730.9
730.5
726.3 _
726.9
729.4
730.0

Feb
1993

Mar

Current data appear in the Federal Reserve Board's H.6 release.
Ml •• 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.

Morey Stock (Ml)
To the average
of four weeks
ending:
8/3/92
8/31/92
9/28/92
11/2/92
11/30/92
1/4/93
2/1/93
3/1/93

Compounded annual rates of change, average of four weeks ending:
3/2/92
6/1/92
8/3/92 8/31/92 9/28/92 11/2/92 11/30/92 1/4/93

10.0
10.9
12.0
13.2
13.5
12.9
12.5
11.4


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

10.1
12.1
14.1
14.4
13.5
12.8
11.3

17.6
19.0
18.3
16.0
14.7
12.5

20.1
18.9
15.9
14.4
12.0

18.8
15.1
13.4
10.8

11.9
10.5
7.9

Prepared by Federal Reserve Bank of St Louis

3

4
Adjusted Reserves
Billions of Dollars

Seasonally Adjusted

Billions of Dollars

110
1993

Billions

100

Dec 23 93.4
Jan 6
20 93.6
Feb 3 95.8
17 101.5
Mar 3

102
98
94
90
86

82

1 ts 2) 12 21 11 25 I 22 i 20 3 17 1 15 2! 12 20 J 23 7 21 4 II 2 II 30 13 27 II 21 Id 24
Jan

Feb

Mar Apr

May

Jun

Jul
1992

Aug

Sep

Oct

Nov

Dec

Jan

Feb
1993

Mar

Latest data plotted two weeks ending: March 3, 1993
Adjusted reserves is the difference between adjusted monetary base and currency component of M1.

AdMWd Owivbi
Compounded annual rates of change, average of two maintenance periods ending:
To the average of 3/4/92 5/27/92 8/5/92
9/2/92 9/30/92 10/28/92 12/9/92
1/6/93
two maintenance
periods ending:
8/5/92
9/2/92
9/30/92
10/28/82
12/9/92
1/6/93
2/3/93
3/3/93

5.8
7.0
8.1
11.5
11.2
9.8
10.2
14.9


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

3.0
5.6
11.2
10.9
8.9
9.6
15.8

14.8
22.8
18.3
13.8
14.0
22.0

27.4
19.5
13.8
14.0
23.3

21.1
13.3
13.6
24.8

4.0
7.0
21.6

4.9
27.9

Prepared by Federal Reserve Bank of St. Louis

78

Money Multipier 1/
Averages of Daily Figures
Seasonally Adjusted

Ratio

3.2

Compounded annual
rates of change,
average of the four
weeks ending
March 1, 1993 from
the four weeks ending:
Mar 2, 1992 0.6
May 25. 1992 -0.4
Aug 31, 1992 -1.1
Sep 28, 1992 -1.8
Oct 26, 1992 -2.9
Dec 7. 1992 -7.5
Jan 4. 1993-12.5

1 I ' r

4 21

3 17

Jan

Feb

2 II 31

' I » 1 1I » I

Apr May

r

1993

Ratio

Dec 21
Jan 4
18
Feb 1
15
Mar 1

I r1 I

13 27 11 25 I 22

Mar

i

1 T i T~*' V' I ' f ' I ■ I »' I ' I

I 21 3 17 31 14 21 12 21

Jun

Jul
Aug
1992
Latest data plotted two weeks ending: March 1, 1993

Sep

Oct

Ratio
1 1.2

2.661
2.655
2.663
2.644
2.592
2.621

1

I 23 7 21
Nov

4 II 1

Dec

Jan

15 1 15 25
Feb
1993

Mar

Currency Component of Ml2/
Averages of Daily Figur<
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

303

--------1--------- 1----------1--------Compounded annual
rates of change,
average of the four
weeks ending
March 1, 1993 from
the four weeks ending:
Mar 2. 1992 9.6
Jun 1, 1992 10.6
Aug 31. 1992 10.5
Sep 28, 1992 9.1
Nov 2. 1992 9.6
Nov 30, 1992 10.2

203

213

199:

Feb

Biliione

1
8
15
22
Mar 1
s'
Jan

3

17
Feb

11 M 13 27 11 23
Mar
May
Apr

'in

t

21
Jun
Jul
1992

i

' 14' 21
17 J
12 20
Aug
Sep
Oct

i'»

7 ' 21'

Nov

Dec

296.0
295.8
296.4
297.2
298.4

I
i

ii
Jan

l
15
Feb
1993

15 2
Mar

Latest data plotted week ending: March 1, 1993
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

275

205

6

Yields on Selected Securities

Percent

3

Averages of Daily Figures

17 31 14 21 13 27 II 24
Feb Mar
Apr

II 3 17 31 14 21 11 25 S 23 I 21 4 II
Jun
Jul
Aug
Sep
Oct
Nov
Dec

IS 21 12 21

Latest data plotted are averages of rates available for the week ending: March 12, 1993

1993

90—Day
CDs

Dec 18
25
Jan 1
8
15
22
29
Feb 5
12
19
26
Mar 5
12 *

3.44
3.35
3.34
3.27
3.20
3.17
3.13
3.14
3.12
3.11
3.10
3.11
3.11

30—Day
Commercial
___ p°p*r
3.75
3.62
3.56
3.34
3.20
3.16
3.14
3.16
3.14
3.16
3.11
3.13
3.15

90—Day
Bankers'
Acceptances

Corporate
Aaa Bonds

Corporate
Baa Bonds

Municipal
Bonds **

3.42
3.34
3.31
3.21
3.14
3.12
3.08
3.09
3.06
3.05
3.05
3.06
3.08

7.99
7.93
7.90
7.92
7.96
7.90
7.84
7.78
7.75
7.69
7.61
7.56
7.54

8.82
8.75
8.75
8.74
8.73
8.65
8.55
8.50
8.49
8.37
8.22
8.12
8.06

6.25
6.19
6.17
6.17
6.19
6.16
6.10
6.04
5.97
5.85
5.60
5.47
NA

Current data appear in the Federal Reserve Board's H.15 release.
* Averages of rotes available
** Bond Buyer's Average Index of 20 municipal bonds, Thursday data
N A - Not Available
Prepared by Federal Reserve Bank of St Louie


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

Selected Interest Rates
Averages of Daily Figures

3 17 31 14 » 13 27 II 24 I 22
Jan
Feb Mar Apr May

IS 3 17 31 14 21 11 25 S 23 I 21 4 II 1 15 2S 12 21
Jul
Aug Sep Oct Nov Dec Jan

Latest data plotted are averages of rates available for the week ending: March 12. 1993

1993
Dec 18
25
Jan 1
8
15
22
29
Feb 5
12
19
26
Mar 5
12 *

Federal
Funds •*

3—Month
Treasury
Bill

6—Month
Treasury
Bill ***

2.93
2.94
2.86
3.03
2.98
3.10
2.94
3.15
2.92
3.06
2.91
3.24
3.02

1 —Year
Treasury
Bill

5—Year
Treasury
Securities

Long-Term
Treasury
Securities

3.21
3.43
3.60
6.10
7.28
3.18
3.32
3.49
6.03
7.19
3.15
3.38
3.46
6.03
7.22
3.09
3.28
3.44
5.95
7.21
3.00
3.19
3.36
5.90
7.24
2.99
3.13
3.33
5.82
7.12
2.92
3.09
3.26
5.66
7.00
2.92
3.10
3.26
5.55
6.95
2.93
3.09
3.32
5.56
6.93
2.92
3.08
3.22
5.39
6.86
2.95
3.06
3.17
5.21
6.66
2.95
3.05
3.17
5.09
6.55
2.99
3.09
3.27
5.20
6.52
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

7

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

Billions of Dollars

Billions of Dollars

3550 ----- .----M2
1993 Billions
Jan 25 3492.3
Feb 1 3485.9
8 3481.7.
15 3481.4
22 3484.4
Mar 1 3484.0

M2 (left scale)

Non-M1 M2 (right scale)

Non-M1 M2
1993 Billions
Jan 25 2458.5
Feb 1 2451.4
8 2451.7
15 2450.2
22 2449.7
Mar 1 2447.5

I II 3 17 2 11 34 13 27 11 25 8 22 S 20
Jan

Feb

Mar

Apr

May

Jun
Jul
1992

17 31 14 20
Aug

Sep

Oct

Nov

Dec

Jan

Feb
1993

Mar

Latest data plotted week ending: March 1, 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.

Moray Stock (M2)
To the average

Compounded annual rates of change, average of four weeks ending:
3/2/92
6/1/92
8/3/92 8/31/92 9/28/92 11/2/92 11/30/92 1/4/93

ending:

3.8
3.4
2.2

3.7
2.1
0.0

I

0.4

0.6

d

2.8
3.5
3.3
2.3
1.4
0.7

PN


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

0.6
1.1
1.9
2.0
1.5
0.9
0.4

so

0.0
0.5
0.7
1.3
1.4
1.2
0.8
0.4

o

8/3/92
8/31/92
9/28/92
11/2/92
11/30/92
1/4/93
2/1/93
3/1/93

-1.4

Prepared by Federal R«

-2.1
-2.6

-3.6

Bank of St Louis

Savings and Money Market Funds
Averages 01 Daily Figures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Savings
1993 Billions
Jan 25 1182.6
Feb 111 79.3 .
8 1182.3
15 1183.5
22 1183.7

Money Market

Savings Deposits (left scale)

1993

Billions

Jan 25

345.5

15

339.0

Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
1992
.
1993
Note: Savings deposits are at all depository institutions. Money market funds are general purpose
and broker/dealer.
.

Mar

Large and Small Time Deposits '
Billiot _

Billions of Dollars

Averages of Dally Figures, seasonally Adjusted

Small Time
1993

Billions

Jan 25
Feb 1
8
15
22
Mar 1

859.5
857.8
856.5
855.5
854.5
853.6

Large Time (left scale)

Large Time

Small Tims (right scale)

1993 Billions
-Jan 25 349.1
Feb 1 349.3
8 348.9
15 347.9
22 347.4
Mar 1 345.7

20 3 17 2 IS 30 13 27 II 25 « 22 $ 21 3 17 31 14 21 12 21 J 23 7 21 4 11 1 15 1 15 2!
Jan

Feb

Mar

Apr

May

Jun
Jul
1992

Aug

Sep

Oct

Nov

Dec

Jan

Feb
1993

Mar

Latest data plotted week ending: March 1, 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

10
Total Borrowings
From Federal Reserve Banks
Averages of Daily Figures

Billions of Dollars
3.0 --------- 1--------1993

2.0

3.0

Bill ions

— Feb 3
10
17
24
Mar 3
10

2.5

Billions of Dollars

0. 043
0. 032
0. 033
0. 046
0. 066
0. 025

2.5
2.0

1.5

1.5

I.O

1.0

0.5

0.5

w

0.0 I
1 15 21 1! 21 It 25 I 12 i 21
Jan Feb Mar Apr May

24

J 17 1 15 21 12 21 I 21 7 21 4 II 2 II H 1] 27 II It II 24
Jun
Jul
Aug
Sep Oct Nov Dec
Jan Feb Mar
1992

1993

Adjustment + Seasonal Borrowings
From Federol Reserve Banks
Averages of Daily Figures

Billions of Dollars

2.5

Billions of Dollars

2.5

--------- 1---------1----------

2.0

1993

Billions

Feb 3
10
17
24
Mar 3
10

0.041
0.032
0. 033
O. 046
0. 066
0. 025

2.0

1.5

1.5

1.0

L

0.5

0.5
V- —*

0.0 I

A'

J

—•—'

A

tyl

1 15 21 11 21 11 25 I 22 I » 3 17 1 15 21 12 21 ! 23 7 21 4 11 1 It H I] 27
Jan
Feb Mar Apr May Jun
Jul
Aug
Sep Oct Nov Dec
Jan
1992

>N

II 24 II 14
Feb Mar
1993

Latest data plotted week ending: March 10, 1993


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

Prepared by Federal Reserve Bank of St. Louis

0.0

r

Commercial Paper of Nonfinandal Companies

Billions of Dollars

1993

Billions of Dollars

Not Seasonally Adjusted

Billions

_ Mar 3

1 15 29 12 2$ 11 25 I 22 I 20 3 17 1 15 2! 12 21 9 23 7 21 1 II 2 II 39 13 27 10 24 10 24
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Feb

Mar

Latest data plotted week ending: March 3. 1993

Commercial and Industrial Loans17
Weekly Reporting Large Commercial Bonks 2/
Seasonally Adjusted

Billions of Dollars
370 ——,-------- ,---------- j--------Compounded annual
rates of change,
average of the four
weeks ending
350
February 24, 1993 from
the four weeks ending:
Feb 26, 1992 -4.5
May 27. 1992 -3.6
330
Aug 26. 1992 -2 .3
Sep 23, 1992 -2 .9
Oct 21, 1992 -A .3
Nov 25, 1992 -1 .3

Billions of Dollars
---------- 1-------- r~
370
1993

Feb

27
3
10
17
24

Billions
278.096
279.096
277.035
276.235
275.167

350
- 330

310

310

200

290

270

270

250

15 2i 12 21 11 25
Feb
Jan
Mar

« 22
Apr

i

a J
May

17 ’
15 2! 12 29
Jun
Jul
Aug
1992

5 25
Sep

) 21'

r-rri

4
Oct

11
Nov

11 30 13 27 I0 24 10 24
Dec
Jan
Feb Mar
1993

Latest data plotted week ending: February 24, 1993
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


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

11

250

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

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Latest data plotted week ending: March 10, 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.


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

Prepared by Federal Reserve Bank of St. Louis

6

noixwhi

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