Full text of U.S. Financial Data : March 24, 1988
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RE9E*R of St. Louis MAR 2 8 1988 March 24, 1988 THE WEEK'S HIGHLIGHTS: s New factory orders for durable goods (seasonally adjusted) fell 1.8 percent in February, following a similar decline in January. This is the first consecutive two-month decline in durable goods orders since the spring of 1986. is Consumer prices rose at a 2.1 percent annual rate (seasonally adjusted) in February, compared with a 4.2 percent rate of increase in January. February prices were up 3.8 percent from a year earlier. s The U.S. merchandise trade deficit was $12.44 billion (not seasonally adjusted) in January, up slightly from $12.2 billion last December. U.S. imports declined 6 percent in January, reaching their lowest levels in nine months, while U.S. exports fell 10 percent. ts Real GNP growth for the fourth quarter of 1987 was revised upward to an annual rate of 4.8 percent. Real GNP growth for the year ending in the fourth quarter of 1987 was 4 percent, the highest annual growth since 1984. II IK FEDERAL A RESERVE ItAXKof nr ST. LOUIS views expressed do not necessarily reflect official positions of the Federal Reserve System. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2 ADJUSTED MONETARY BASE AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS 1.98& BILLIONS OF DOLLARS 276 BILLIONS. JAN, 273.0 272.4 272. I 274.2 264 II 25 11 FEB 25 8 22 MAR 6 20 3 17 MAY JUN I 15 28 12 28 0 23 7 21 4 OCT NOV 18 2 16 30 13 27 JAN 10 24 0 23 6 20 FEB 1987 1988 LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDINGt MARCH 23, 1988 THE ADJUSTED MONETARY BASE IS THE SUM OF RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT FEDERAL RESERVE BAM<S.CURRENCY INCIPECULATION 1CURRENCY_HELP_BY_THE_PUBUC_AND _IN THE_VAULTS_OF.ALL DEPOSITORY INSTITUTIONS) AM) ....___________ THE MAJOR AN ADJUSTMENT_FOR ________ RESERVE_REC UIREMENT RATIO CHANGES. .. THE ..._________________ iRY BASE DATA ARE COMPUTED BY THIS SOURCE OF ADJUSTEDMONETARY BASE IS |S FEDERAL FEDERAL RESERVE RESERVE CF EDIT. A DETAILED DESCRIPTION OF THE ADJUSTED MONETARY BAJ E IS AVAILABLE FROM THIS BANK. RECENT DATA ARE PRELIMINARY. ADJUSTED MONETARY BASE COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF TWO MAINTENANCE PERIODS ENDING: 3/25/87 6/17/87 8/26/87 5. 1 4.6 7. 1 6.4 7.7 7.0 6.8 4.8 9.2 7.6 9.2 8.0 7.5 9/23/87 10/21/87 11/18/87 12/16/87 1/27/88 TO THE AVERAGE OF TWO MAINTENANCE PERIODS ENDING: 8/26/87 9/23/87 10/21/87 11/18/87 12/16/87 1/27/88 2/24/88 3/23/88 6. 1 6.2 5.8 7.2 6.8 7.6 7. 1 6.9 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10.6 8.0 9.7 8.3 7.7 10.5 11.7 9.5 8.5 9. 1 7.0 6.4 8.6 7.4 3. 1 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK (Ml ) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 1558. BILLIONS OF DOLLARS 780 BILLIONS 761.1 759.9 762. 1 754.9 755.8 760.5 2 10 2 10 90 10 27 APR II 25 8 22 0 20 3 17 91 MAY M 28 SEP LATEST DATA PLOTTED WEEK ENDING*. MARCH 14, 12 20 9 23 OCT 7 21 DEC JAN MAR APR 1988 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE. Ml IS THE SUM OF CURRENCY HELD BY THE NONBANK PUBLIC, DEMAND DEPOSITS, OTHER CHECKABLE DEPOSITS AND TRAVELERS ChECKS. MONEY STOCK (Ml ) COMPOUNDED ANNUAL RATES OF CHANGE, 3/16/87 6/15/87 8/17/87 4.2 3.9 4.2 5.0 3.4 3.3 4.4 3.5 1 . 1 2.3 4.0 1 .8 1 .8 3.6 2.5 4.3 6.4 2.4 2.3 4.6 3.1 AVERAGE OF FOUR WEEKS ENDING: 9/14/87 10/12/87 11/16/87 12/14/87 1/11/88 TO THE AVERAGE OF FOUR WEEKS ENDING: 8/17/87 9/14/87 10/12/87 11/16/87 12/14/87 1/11/88 2/15/88 3/14/88 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 8.3 2.4 2.4 5.0 3.2 0.7 1 .2 4.7 2.6 -4.0 2.8 0.6 8.9 4.0 4.8 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 3 4 MONEY MULTIPLIERi/ CURRENCY COMPONENT OF MONEY STOCK 2/ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED RATIO RATIO RATIO 2.809 2.783 2.794 Ml MULTIPLIER 9 23 FEB 9 23 MAR 0 20 4 APR MAY 18 1 15 29 IS 27 JUN JUL 1987 10 2A 7 21 5 19 AUG SEP OCT LATEST DATA PLOTTED TWO WEEKS ENDING: MARCH 7, 2 10 30 14 28 11 NOV DEC 23 JAN 0 22 7 21 FEB MAR 1988 APR 1988 BILLIONS OF DOLLARS ILL IONS OF DOLLARS 206 - COMPOUNDED ANNUAL RATES -__OF CHANGE. AVERAGE OF ___THE FOUR WEEKS END ING MARCH 14, 1988 FROM THE FOUR WEEKS ENDING: _ OCT CURRENCY 16, — MAR 1987 19SS FEB. BILLIONS 8 199.4 200.2 I I I 1 1.1 II 1,1 1 1 1 111 2 16 2 16 30 13 27 II 25 8 22 6 20 3 17 31 LATEST DATA PLOTTED WEEK ENDING: MARCH 14, 14 28 12 26 9 23 7 21 4 18 DEC JAN 1 15 29 14 28 II 25 1988 1/ RATIO OF MONEY STOCK (Ml ) 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 TOTAL CHECKABLE DEPOSITS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 580 ---------- .------------- ,----- 19M FEB. 2 16 FEB 2 BILLIONS OF DOLLARS -------- ---------------------- 580 BILLIONS 554.5 553. 1 555.3 548.5 549.2 552.9 16 30 MAR 13 27 APR II 25 MAY 8 22 JUN 6 20 JUL 3 17 31 AUG IA 28 SEP 12 26 9 23 OCT DEC JAN MAR APR 1987 LATEST DATA PLOTTED WEEK ENDINGt MARCH 14, 1988 DEPOS1 TORY^NSTJTUT?ONS? 'S T* SUM V DEMW® DEPOSITS AND OTHER CHECKABLE DEPOSITS AT ALL TOTAL CHECKABLE DEPOSITS COMPOUNDED ANNUAL RATES OF CHANGE, 3/16/87 6/15/87 8/17/87 AVERAGE OF FOUR WEEKS ENDING-. 9/U/B7 10/12/87 11/16/87 12/M/87 I/I 1/88 TO THE AVERAGE OF FOUR WEEKS ENDING: 8/17/87 9/14/87 10/12/87 11/16/87 12/14/87 1/11/88 2/15/88 3/14/88 3.2 2.7 3. 1 3.9 1.7 1.4 2.8 1.8 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -1.0 0.4 2.3 -0.7 -0.7 1.4 0.3 2.8 5. 1 -0.2 -0.4 2.5 0.9 7.3 -0.3 -0.5 2.9 1 .0 -2.7 -2.2 2.3 0.2 -8.6 -0. 1 -2.2 7.6 2.3 3.9 PREPARED BY FEDERAL RESERVE BANC OF ST. LOUIS 5 6 YIELDS ON SELECTED SECURITIES AVERAGES OF DAILY RATES percent CORPORATE AAA BONDS .PAN RATE 6 20 8 20 3 17 FEB MAR APR I 15 20 12 20 10 24 7 21 4 AUG SEP 18 2 10 50 15 27 11 NOV DEC 25 8 22 5 10 4 FEB MAR LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING. MARCH 25, 1988 FEB. MAR. APR. 5 12 19 26 4 1 1 18 25 * 1 8 15 22 29 18 1 15 20 1988. 90 DAY CD'S 30-DAY COMMERC1AL PAPER 90-DAY BANKERS' ACCEPTANCES CORPORATE Aaa BONDS CORPORATE Baa BONDS MUNICIPAL BOWS ft* 6.63 6.54 6.64 6.61 6.58 6.62 6.61 6.63 6.59 6.47 6.61 6.53 6.54 6.55 6.56 6.57 6.50 6.43 6.55 6.48 6.45 6.50 6.51 6.52 9.46 9.42 9.41 9.33 9.27 9.34 9.36 9.42 10.71 10.62 10.60 10.56 10.48 10.50 10.55 10.63 7.49 7.40 7.55 7.52 7.47 7.67 7.75 N. A. NOTE. CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.15 RELEASE. * AVERAGES OF RATES AVAILABLE ** BOND BUYER'S AVERAGE IWJEX OF 20 MUNICIPAL BOMJS, THURSDAY DATA N.A. - 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 RATES PERCENT PERCENT —I 11.0 11.0 i— 10.0---------------------------------------------------------------------------------- 5-YEAR----------------------------------------------------------------------- 10.0 TREASURY SECURITIES FEDERAL, FUNDS RATE Kr- DISCOUNT RATE 3-MONTH TREASURY BILL I 1 I 1 I I .1 I I 1 I 1 1 1 11 1 1 I I I 1 1 I I 1 III 1 1 ,1 I I I 1 I I 1 J 1 1 1 I I 1 1.1 1 1 I 1 I 1 1 J 1 I 1 1 I I I L. 6 20 6 20 5 17 FEB MAR APR 1 15 20 12 26 10 24 MAY JUN JUL 1987 7 21 4 AUG SEP 18 2 16 50 13 27 OCT NOV 11 DEC 25 22 JAN 5 18 4 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING* MARCH 25, 1988 FEB. MAR. APR. 5 12 19 26 4 1 1 18 25 X 1 8 15 22 29 18 1 FEB MAR I 988 15 20 APR 1988. FEDERAL FUNDS XX 3-MONTH TREASURY BILL 6-MONTH TREASURY BILL X*QK 1-YEAR TREASURY BILL 5-YEAR TREASURY SECURITIES LONG-TERM TREASURY SECURITIES 6.77 6.38 6.65 6.64 6.60 6.51 6.61 6.51 5.67 5.65 5.72 5.63 5.63 5.73 5.64 5.78 6. 1 1 5.85 6.03 5.83 5.86 5.93 5.78 5.96 6.22 6.16 6.27 6.20 6.20 6.28 6.23 6.33 7.73 7.67 7.79 7.70 7.63 7.78 7.78 7.91 8.43 8.42 8.55 8.46 8.44 8.60 8.63 8.77 NOTE: CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.15 RELEASE EXCLUDING LONG-TERM TREASURY SECURITIES WHICH ARE COMPUTED BY THIS BANK. TREASURY BILL YIELDS ARE ON A DISCOUNT BASIS. X AVERAGES OF RATES AVAILABLE XX SEVEN-DAY AVERAGES FOR WEEK ENDING TWO DAYS EARLIER THAN DATE SHOWN XXX AUCTION 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 1/ LARGE TIME DEPOS I TS 2/ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS iSfifl BILLIONS OF DOLLARS BILLIONS 393.6 394.1 395.3 395.6 396.1 SMALL TIME DEPOSITS LATEST DATA PLOTTED WEEK ENDINGt MARCH 14, 1988 BILLIONS OF DOLLARS 330 r-------- ,------------- 1------ ISM BILLIONS OF DOLLARS ---------------------------- =] 330 BILLIONS 324.4 323.6 325.2 324.9 325.1 2 18 FEB 2 LARGE TIME DEPOSITS 16 30 13 27 11 MAR APR MAY 25 8 22 JUN 6 20 JUL 1987 3 17 31 AUG LATEST DATA PLOTTED WEEK ENDING: MARCH 14, 14 28 12 26 SEP OCT 0 23 NOV I DEC JAN 15 28 14 28 11 25 FEB MAR 1988 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 BILLIONS OF DOLLARS 920 910 894.3 898.6 899.0 902.5 903.2 900 890 880 870 060 850 840 830 820 II I I 2 16 2 10 30 13 27 APR 11 25 8 22 6 20 3 17 31 MAY 14 28 SEP 12 28 0 23 T 21 DEC OCT JAN MAR APR LATEST DATA PLOTTED WEEK EM)INO« MARCH 14, 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: 3/16/87 6/15/87 8/17/87 9.3 8.5 8.2 9.9 9.6 9.2 8.8 9.4 6.7 6.6 9.7 9.3 8.7 8,3 9.1 5.3 11.1 10.2 9. 1 8.4 9.5 9/14/87 10/12/87 11/16/87 12/14/87 1/11/88 TO THE AVERAGE OF FOUR WEEKS ENDING: 8/17/87 9/14/87 10/12/87 11/16/87 12/14/87 1/11/88 2/15/88 3/14/88 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 14.3 12.1 10.2 9.2 10.3 14.7 11.4 9.9 11.0 5.8 5.9 8.3 5.3 8.6 10.5 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 9 10 BORROWINGS FROM FEDERAL RESERVE BANKS BILLIONS OF DOLLARS 3.0 ---------- «---------- i-------- JM AVERAGES OF DAILY FIGURES BILLIONS OF DOLLARS ------------------- ----------- 3-° MILLIONS. 0 16 23 690 1311 2537 TOTAL BORROWINGS LATEST DATA PLOTTED WEEK ENDINGt MARCH 23. 1988 BILLIONS OF DOLLARS BILLIONS OF DOLLARS 1988 FEB. MAR. 4 18 FEB MILLIONS 17 24 2 9 16 23 4 18 MAR 254 132 187 378 153 325 I 15 20 13 27 10 24 ADJUSTMENT + SEASONAL BORROWINGS 8 22 5 10 LATEST DATA PLOTTED WEEK ENDING* MARCH 23, http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2 10 30 14 28 11 23 OCT NOV 0 23 6 20 JAN 3 17 FEB 2 16 30 13 27 1988 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS COMMERCIAL PAPER OF NONFINANCIAL COMPANIES NOT SEASONALLY ADJUSTED I ILL IONS OF DOLLARS 95 ---------- 1---------- .-------- BILLIONS OF DOLLARS ------------------- ----------- 95 FEB. 10 87,541 88,550 01,822 4 18 FEB 4 18 MAR I 15 20 15 27 10 24 8 22 APR MAY JUN JUL 1987 5 10 AUG LATEST DATA PLOTTED WEEK ENDING* MARCH 18, I I I I 2 16 30 14 28 11 25 0 23 SEP OCT NOV DEC 8 20 JAN 3 17 2 16 30 13 27 FEB MAR APR 1988 1988 * >ASHED 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 BILLIONS OF DOLLARS COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF THE FOUR *EEKS ENDING DECEMBER 30. 1987 FROM THE FOUR WE£KS ENDING* OCT. SEP. SEP. JUL. JUL. APR. DEC. 28, 30, 2, 29, 1, 1, 31, 1987 1987 1987 1987 1987 1987 1986 NOV. 25 DEC. 2 5 10 3 17 31 14 28 II 25 II JAN FEB MAR 25 8 22 8 20 3 17 MAY JUN LATEST DATA PLOTTED WEEK ENDING* DECEMBER 30, I I I I 1 15 20 12 0 23 3.8 6.2 7.6 4.9 1.2 -0.7 0.2 276,566 277,744 278,725 276,381 1 I 1 I 1 1 1 1 I 1 1 1 111 I 7 21 4 18 2 16 30 13 27 OCT NOV 1987 1/ BUSINESS LOANS INCLUDE BAhKERS' ACCEPTANCES AND COMMERCIAL PAPER. 2/ BANKS 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
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