Full text of U.S. Financial Data : May 12, 1994

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

*-------TO3yi2;' 1994

Federal Reserve Bank

U.S .Tinalncial Data 3
THE WEEK'S HIGHLIGHTS:
✓ The producer price index for finished goods decreased at a 1 percent
annual rate in April, following a 2.9 percent rate of increase in
March. Nevertheless, producer prices have risen at a 1.4 percent
rate since September 1993, after declining at a 2.7percent rate
over the previous five months.
✓ Nonfarm payroll employment grew at a 2.9 percent annual rate in
April, after rising at a 5.1 percent rate in March. Nonfarm payrolls
have grown by 978,000jobs over the first four months of 1994,
compared to an increase of741,000 over the first four months
of1993.
✓ Retail sales fell at an 8.7 percent annual rate in April after regis­
tering a 23.3 percent rate of increase from January to March; the
initial estimate for this two-month period showed sales rising at a
12.8 percent rate. Retail sales data are not adjusted for inflation.
Outstanding consumer installment credit increased at an 11.7 percent
annual rate in March, following a 6.2 percent rate of increase in
February. Over the six-month period ending in February, consumer
credit grew at a 10.2 percent rate.

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:
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must be payable in U.S. dollars and, except for those from Canada, must be drawn on a U.S. bank.
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Federal Reserve Bank of St. Louis

2
Adjusted Monetary Base
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

1994

Billions

Apr 13
27
May 11

438.0
439.7
438.8

Billions of Dollars

1993
1994
Latest data plotted reserve maintenance period ending. May 11, 1994
The adjusted monetary base is the sum of reservp 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 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
T

, Compounded annual rates of change, average of two maintenance periods ending:
5/,2/93 8/4/93 10/13/93 11/10/93 12/8/93 1/5/94 2/16/94 3/16/94

10 tne average or

tarn rvminfan/inrA

periods ending:
10/13/93
11/10/93
12/8/93
1/5/94
2/16/94
3/16/94
4/13/94
5/11/94

11.7
10.6
10.0
9.4
11.0
10.8
10.3
10.0


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Federal Reserve Bank of St. Louis

10.2
9.2
8.4
11.0
10.7
10.0
9.7

5.4
5.3
10.3
9.9
9.2
8.9

5.4
11.8
11.0
10.0
9.5

14.3
12.6
10.9
10.1

15.8
12.7
11.3

Prepared by Federal Reserve Bank of St. Louis

Money Stock (Ml) and Total Checkable Deposits
Billions of Dollars

Averages of Daily Figures

Billions of Dollars

1

1145

mo

060

1994 Qii ions
- Mar 28 11 1-6.7
Apr 411 1-8.0
11 11 13.7
18 11 57.6
25 IK56.4
May 2 11.58.7

840

070
11 (left scale)
%

1055

\
\

**

N*

/
**

1070
4

780

_4
—

r'

1045

J ‘ V./
t

■

f

TCD ( ight sc ale)

TCD

/

1070
.

995

IS I) 1! 2f 10 24 7 21 S IS 2 If 30 13 27 11 25
Mar
Apr May Jun Jul
Aug
Sep Oct
1993

T-' I ' I ' I '
8 22 6 20
Nov Dec

1994

Billi pns

Mar 28

80<1.6

11
18
25
May 2

801.6—
795.3
792.9
794.2

I
I
' i '
'i '
I 1 l 1 l i l i l * i
17 3 14 28 14 II 11 IS S 11
Jan
Feb Mar
Apr May
1994

Current data appear in the Federal Reserve Board's H.6 release.
checks'!' 'Um °f curr'ncs' hdd by lhe "°nbank public, demand deposits, other checkable deposits and travelers
Total checkable deposits is the sum of demand deposits and other checkable deposits at depository institutions.

Money Stock (Ml)
of four weeks

Compounded annual rates of change, averaae of four tr
0/0/9J
8/2/93
10/4/93 11/1/93 11/29/93 1/3/94
1/31/94

2/28/94

ending:
10/4/93
11/1/93
11/29/93
1/3/94
1/31/94
2/28/94
4/4/94
5/2/94

13.7
13.0
12.6
11.7
11.1
10.5
10.1
8.7


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Federal Reserve Bank of St. Louis

10.0
10.0
9.2
8.7
8.2

7.9
6.3

9.8
8.4
7.8
7.4
7.1
5.2

7.9
7.3
6.9
6.6
4.5

6.1
5.9
5.9
3.6

5.7
5.8
2.8

1.8

0.3

Prepared by Federai Reserve Bank of St. Louis

3

760

740
770

4
Adjusted Reserves
Seasonally Adjusted

Billions of Dollars

Feb 1 6
-Mar 2
16
30
Apr 13
27

Mar

Billions of Dollars

105.5
105.9
103.4
103.0
104.2
104.9

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Feb

Dec

Mar

Apr

May

1994

1993
Latest data plotted two weeks ending: April 27, 1994

Adjusted reserves is the difference between adjusted monetary base and currency component of M1.

Adjusted Reserves
Compounded annual rates of change, average of two maintenance periods ending:
To the average Of 4/28/93 7/21/93 9/29/93 10/27/93 11/24/93 12/22/93 2/2/94
3/2/94
two maintenance
periods ending:
9/29/93
10/27/93
11/24/93
12/22/93
2/2/94
3/2/94
3/30/94
4/27/94

13.2
13.1
9.5
7.1
10.8
11.5
7.7
8.5


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Federal Reserve Bank of St. Louis

12.9
7.2
3.9
9.8
10.9
5.9
7.1

0.0
-3.4
7.9
9.8
3.2
5.2

14.6
15.8
4.6
7.1

28.0
9.1
11.3

-6.7
1.3

-6.6

Prepared by Federal Reserve Bank of St. Louis

Money Multiplier 1/
Averages of Daily Figures
Seasonally Adjusted

Ratio

3.0

Compounded annual
rates of change,
average of the four
weeks ending
April 25, 1994 from
the four weeks ending:
Apr 26, 1993 -0.9
Aug 2, 1993 -2.6
Nov 8. 1993 -4.0
Dec 6, 1993 -5.5
Jan 3. 1994 -7.2
Jan 31, 1994 -5.8
Feb 28, 1994 -2.7

Ratio
Feb 14
Mar 1 4
Apr 11

2.622
2.61 5
2.624
2.626
2.61 6
2.587

-

2,8

2.8

1 15 19 12 2( 19 24 7 21 5 19 2 19 31 13 27
Mar

Apr

May

Jun

Jul

Aug

11 25 S 22 6 20 3 17 II 19 21 19 21 II 25 9 21

Sep

Oct

Nov

Dec

Jan

Feb

1993
Latest data plotted two weeks ending: April 25, 1994

Mar

Apr

2.4

May

1994

Currency Component of M12/
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

395

335

325

Billions of Dollars

385

--------- 1--------- 1---------- —
Compounded annu 3l
rates of change,
average of the four
weeks ending
■ May 2, 1 994 from
the four weeks end ng:
May 3, 1993 10 .9
Aug 2, 1993 10 .9
Nov 1, 1993 11 .2
Nov 29. 1993 11 .8
Jan 3. 1 994 13 .4
Jan 31, 1 994 12 . 1
Feb 28, 1 994 10 .6

335

325

315

315

305

295

‘■iii1 1 l 1 l
~l ■ l ■ T-T-r ■

I 15 29 12 29
Mar

Apr

T'T

i

|

199 4

Bilii ons

Mar 2B
Apr 4
11
18
25
May 2

33 4.0
33 3.7
334.0
334.3
335.3
336.4

-

1' 1 '

11 29 7 21 5 19

2 19 30 1] 27 11 25 1 22 9 20 3 17 31 19 21 14 11 11 25 9 23

May Jun

Aug

Jul

Sep

Oct

Nov

1993

Dec

Jan

Feb

Mar

Apr

May

1994

Latest data plotted week ending: May 2, 1994
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

305

295

6
Yields on Selected Securities
Averages of Daily Figures

Loon Rato
I lunlclpgl Bonds

5

IS 2 If
Mar Apr

14 21
May

11 25
Jun

S 23 S 20
Jul
Aug
1993

3 17 1 15 29 12 2f
Sep
Oct
Nov

10 24
Dec

7 21 4 18
Jan
Feb

4 11 I 15 29 13 27
Mar
Apr
May
1994

Latest data plotted are averages of rates available for the week ending: May 13, 1994

1994

30-Day
Commercial
Paper

90-Day
CDs

90-Day
Bankers'
Acceptances

Feb 18
25
Uar 4
11
18
25
Apr 1
8
15
22
29
May 6
13 *

3.46
3.47
3.57
3.61
3.61
3.67
3.68
3.77
3.71
3.88
3.89
4.05
4.38

3.47
3.57
3.71
3.77
3.75
3.81
3.84
3.93
3.90
4.08
4.12
4.35
4.69

3.43
3.53
3.67
3.75
3.72
3.75
3.75
3.88
3.84
4.04
4.06
4.31
4.64

Corporate
Aaa Bonds
7.06
7.23
7.36
7.44
7.46
7.49
7.65
7.90
7.87
7.93
7.81
7.97
8.11

Corporate
Baa Bonds

Municipal
Bonds **

7.76
7.92
8.01
8.08
8.10
8.15
8.30
8.56
8.51
8.55
8.46
8.59
8.74

5.42
5.58
5.84
5.88
5.84
5.92
6.07
6.34
6.22
6.19
6.16
6.18
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


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Federal Reserve Bank of St. Louis

Selected Interest Rates

Percent

Percent
B.O

7.0

V
_______ / _____

Averages of Daily Figures

u

T

4
5 -Year
Treoeur Securtties

✓

*

4
✓

✓

/

’ n.
\

5.0

5.0

/\

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

_________ N

\

W

/

f------I ederal
Fu ids Ro 0

■V
a

v

Aj

0 •count tote

3-Mor th
1 reosury Bili
;■

2.0

5

IS 2 18 30 H 21
Mar Apr
May

11 25 9 23 I 29 3 17 1 IS 29 12 26 10 20 7 21
Jun Jul
Aug
Sep
Oct
Nov Dec Jan
1993

4 10 4 II 1 15 29 13 27
Feb Mar
Apr
May
1994

Latest data plotted are averages of rates available for the week ending: May 13, 1994

1994
Feb 18
25
Mar 4
11
18
25
Apr 1
8
15
22
29
May 6
13 *

Federal
Funds **

3-Month
Treasury
Bill

1 —Year
Treasury
Bill

3.25
3.25
3.28
3.25
3.19
3.31
3.49
3.69
3.37
3.59
3.59
3.76
3.70

5—Year
Treasury
Securities

10-Year
Treasury
Securities

Long-Term
Treasury
Securities

3.27
3.70
5.40
5.95
6.40
3.35
3.82
5.60
6.15
6.59
3.47
3.95
5.74
6.29
6.72
3.52
4.09
5.85
6.40
6.80
3.52
4.11
5.91
6.45
6.83
3.49
4.15
6.00
6.52
6.90
3.50
4.21
6.19
6.72
7.07
3.60
4.49
6.47
6.97
7.31
3.57
4.46
6.47
6.93
7.28
3.73
4.64
6.60
7.03
7.33
3.85
4.72
6.56
6.96
7.24
4.04
4.96
6.76
7.16
7.42
4.24
5.22
7.01
7.41
7.62
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


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Federal Reserve Bank of St. Louis

7

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

Billions of Dollars

1294
Mar 28
Apr 4
11
18
25
May 2

Billions
3584.5
3582.6
3595.3.
3588.7
3582.9
3581.5

Billions of Dollars

M2 (left scale)

Non-M1 M2 (right scale)
Non-M1 M2
1994

Billions

Mar 28 2437.8 Apr 4 2434.6
11 2451.6
18 2451.1
25 2446.5
May 2 2442.8

I

2325

15 2* 12 26 10 24 7 21 5 19 2 16 30 13 27 11 25 8 22 6 20 3 17 31 14 28 14 28 11 25 9 23
Mar
Apr May Jun
Jul
Aug
Sep Oct
Nov Dec Jan
Feb Mar Apr May
1993
1994

Latest data plotted week ending: May 2, 1994
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)
To the average
of four weeks
ending:
10/4/93
11/1/93
11/29/93
1/3/94
1/31/94
2/28/94
4/4/94
5/2/94

Compounded annual rates of change, average of four weeks ending:
5/3/93
8/2/93
10/4/93 11/1/93 11/29/93 1/3/94
1/31/94 2/28/94

3.3
2.9
3.0
2.B
2.7
2.3
2.6
2.5


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Federal Reserve Bank of St. Louis

1.3
1.9
1.9
1.9
1.4
1.9
1.9

2.1
2.0
1.9
1.2
2.0
1.9

2.8
2.5
1.4
2.3
2.2

1.8
0.7
2.0
1.9

-0.1
2.0
1.9

2.2
1.9

Prepared by Federal Reserve Bank of St. Louis

Savings and Small Time Deposits
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

1315

Billions of Dollars
--------- 1--------- 1--------- 915

I
I
Savings
1994
Mar 28
Apr 4
II

1275

Small Time

Billions
1221.2
1223.1
1221.6

1994

Billions

Mar 28
Apr 4
11

768.8
767.7
768.0

25 121 7.0
May 2 121 7.6

25
May 2

76 7.4
76 8.7

7.3

875

-'•v

mall 11 me (ritjht sea

1235

835

-»
<

1195

795
^

lavhigi Depot ta(left scale)

^
•s. ^
——

1155

1 15 !! 1! 2f 10 24 7 21 5 1) ! If 111 IJ 27 11 25
Mar
Apr May Jun
Jul
Aug Sep Oct
„ .
1993

I 22 f 20 3 17 31 14 21 14 21 II 25 ! 23
Nov

Dec

Jan

Feb

Mar

Apr

755

May

1994

Note: Savings deposits are at all depository institutions.

Large Time Deposits and Money Market Funds1 /
All Depository Institutions
Averages of Daily Figures, Seasonally Adjusted

Billions of Dollars

400

380

Billions of Dollars

I --------- 1---------Large Time
1994 Billions
Mar 28 332.1
Apr 4 325.4
II 329.0

Mar 28
Apr 4
11

348.3
351.1
360.2

25
May 2

25
May 2

36 6.4
36 3.8

1
1
Money Market
1994 Billions

33 4.0
33 2.4

400

380

►

300

-i—
/
/

Mo tey Ma Itet
*^
, NA

*s

300

J

—»

/v>

>

P

340

340
Lap e Time

320

1

15 21
Mar

I! 21 It 24 7 21 5 IS 2 It 3* 13 27 II 25
Apr May Jun
Jul
Aug
Sep Oct
1993
Latest data plotted week ending: May 2, 1994

I 22 1 2t 3 17 31 14 21 14 21 11 25 J 23
Nov Dec Jan
Feb Mar
Apr May
1994

1/ Large time deposits are those issued in denominations of $100,000 or more.

Money market fund, are general purpoee and broker/dealer.


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Federal Reserve Bank of St. Louis

9

Prepari!d by Federa| R„erve Ba[)k of st Loui,

320

10
Total Borrowings
From Federal Reserve Banks
Averages of Daily Figures

Billions of Dollars

Billions of Dollars

1994

Billions

Apr

6
13
20
27
■May 4
11

3

0.153
0.096
0.088
0.141
0.183
0.156

I7 31 H 21 12 21 9 23 7 21 < 18 1 IS 29 13 27 10 24 I 22 S 19 2 16 2 16 31 13 27 11 25
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov Dec
Jan
Feb Mar
Apr May
1993
1994

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

Billions of Dollars

Billions of Dollars

1994
Apr

6
13
20
27
■May 4
11

3

17 31 14 21 12 26 9 23 7 21 4
Mar

Apr

May

Jun

Jul

II 1
Aug

1993

15 29 13 27 10 24 I 22 5
Sep

Oct

Nov

Dec

Billions
0.153
0.096
0.088
0.141
0.183 —
0.156

19 2 II 2 16 31 13 27 11 25
Jan

Feb

Mar

Apr

May

1994

Latest data plotted week ending: May 11,1994


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Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis

Commercial Paper of Nortfinancial Companies

Billions of Dollars

Billions of Dollars

Not Seasonally Adjusted

Billions
Apr

6

May 4

Mar

Apr

May

Jun

Jul
1

Aug

am

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

.

r

1994

May
1

Latest data plotted week ending: May 4. 1994

Commercial and Industrial Loans17
Billions of Dollars

Weekly Reporting Large Commercial Banks2/
Seasonally Adjusted

Compounded annual
rates of change,
average of the four
week9 ending
April 27, 1994 from
the four weeks ending:

Billions of Dollars

1994

Billions

Mar 23
30
Apr 6
13
20
27

283.741.
284.829'
285.378
284.338
287.666
287.567.
-

1994
Latest data plotted week ending: April 27, 1994
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 Ressr/e Bank of St. Louis


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Federal Reserve Bank of St. Louis

II

305

Dollar’s Trade-Weighted Exchange Index
1973=100

Averages of Daily Figures

1973=100

May

3 17
Mar

31 H 21 12 2$ S 23
Apr

May

Jun

7 21 4 II
Jul

Aug
1993

1 15 2S 13 27 10 24 8 22 5 IS 2 IS
Sep

Oct

Nov

Dec

Jan

Feb

4

2 1$ 30 13 27 11 25
Mar
Apr
1994

May

Latest data plotted week ending: May 11,1994
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


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Federal Reserve Bank of St. Louis