Full text of U.S. Financial Data : May 2, 1996

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

1996Federal Reserve
FEDERAL

RESERVE
IJANKol

ST. LOUIS

1 a IQj

THE WEEK'S HIGHLIGHTS:
✓ Real gross domestic product (GDP) advanced at a surprisingly
strong 2.8 percent annual rate in the first quarter, after rising at
only a 0.5 percent rate in the previous quarter. First-quarter real
GDP growth was boosted by a marked acceleration in the growth
ofpersonal consumption expenditures and nonresidential fixed
investment. Measured from four quarters earlier, real GDP has
increased 1.8 percent.

✓ The employment cost index for total compensation by private industry
workers rose at a 2.9 percent annual rate in the first quarter, down
modestly from a 3.2 percent rate of gain in the fourth quarter.
Wages and salaries rose at a 4.6 percent annual rate in the first
quarter — the largest increase in almost six years — while benefit
costs fell at a 0.9 percent rate.
*/ After falling 1.7 percent in February, real construction spending
rose 3 percent in March. The value of real construction spending
rose at a 4.2 percent annual rate between September 1995 and
March 1996, up briskly from the 1.2 percent pace that prevailed
over the previous six months.

/ The index of leading economic indicators rose 0.2 percent in
March to 101.7 percent (1987=100). This was the third increase
in the past four months.
All data 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 Dollors

Billions of Dollars

Billions
470.4

Feb 14
Mar 13

475.0
Apr 10
472.9

1

15 29 12 26 10 24 7 21

Mar

Apr

May

5

19 2

Jun

16 30 13 27 11 25 8 22 6 20 3 17 31 14 28 13 27 10 24 8 22

Aug

Sep

Oct

Nov

Oec

Feb

1995

Mar

Apr

May

1996

The adjusted monetary base is the sum of reserve accounts of financial institutions at Federal Reserve bonks,
currency in circulation (currency held by the public and in the voulls of all depository institutions) and an
adjustment for reserve requirement ratio changes. The mojor source of the odjusted mohetory base is Federal
Reserve credit. Doto are computed by this bank. A detailed description of the adjusted monetory base is
available from this bonk.
Recent doto are preliminary.

Adjusted Monetary Base
To the overoge of
two maintenance
periods ending:

Compounded annual rates of change, overoge of two maintenance periods endinq:
,
,
,
,
.
4/26/95 7/19/95 9/27/95 10/25/95 11/22/95 12/20/95 1/17/96 2/28/96

9/27/95

1.6

10/25/95

1.9

2.3

11/22/95

1.1

0.9

-0.3

12/20/95

1.6

1.7

1.6

1/17/96

1.7

1.8

1.9

1.3

2/28/96

1.4

1.3

1.1

0.6

1.9

0.6

3/27/96

1.8

1.9

2.0

1.7

3.0

2.3

4/24/96

1.6

1.6

1.6

1.2

2.2

1.5


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

0.6
4.1

Prepared by Federal Reserve Bonk of St. Louis

Money Stock(M1) and Total Checkable Deposits
Averoges of Daily Figures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Billions
Mor 18
Apr

1

1165-

825

Billions

1130.2
1126.4
1127.6
1125.2
1124.7
1125.0

Mor 18

746.0
741.8
742.8
740.1
740.7
740.3

805

(left scale)
785

765

TCD (right scale)

745

6 to 3

11 1 15 29 12 26 10 24
Apr
May
Jun

7 21
Aug

«

18 2 16 JO 13 27 11 25
Sep
Oct

8 22 5

19 4 18 I 15 29 13 27
Feb
Mar
Apr
May

725

1995
Ml is the sum of currency held by the nonbonk public, demand deposits, other checkoble deposits and travelers
checks. Totol checkable deposits is the sum of demand deposits and other checkoble deposits ot depository
institutions. Current data appear in the Federol Reserve Board's H.6 release.

Money Stock (M1)
To the average
of four weeks
ending:

Compounded onnuol rotes of change, average of four weeks ending:
.
.
4/24/95 7/24/95 9/25/95 10/23/95 11/20/95 12/25/95 1/22/96

9/25/95

-1.9

10/25/95

-3.1

11/20/95

-3.2

-4.1

-6.6

12/25/95

-3.4

-4.2

-5.8

-4.0

1/22/96

-3.3

-4.0

-5.2

-3.8

-4.0

2/19/96

-3.7

-4.4

-5.5

-4.5

-4.8

3/25/96

-2.2

-2.2

-2.4

-1.0

-0.5

1.1

4/22/96

-2.2

-2.3

-2.4

-1.2

-0.8

2/19/96

0.3


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

-4.3

-5.0

Prepored by Federal Reserve Bank of St. Louis

3

Adjusted Reserves
Seasonolly Adjusted
Billions of Dollars

Billions of Dollors

Billions
97.6
98.0
97.5
99.5
97.0
97.5

114

110

106

102

98

94

90
Apr

May

Jun

Aug

Sep

Oct

Feb

Mar

Apr

May

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

Adjusted Reserves
To the overage of
two mointenonce
periods ending:

Compounded onnual rotes of change, overage of two mointenonce periods ending:
4/26/95

7/19/95

9/27/95 10/25/95 11/22/95 12/20/95

1/17/96

9/27/95

-3.5

10/25/95

-3.1

-2.9

11/22/95

-6.4

-8.4

-14.1

12/20/95

-4.9

-5.8

-7.6

-10.6

1/17/96

-4.3

-4.7

-5.4

-6.8

2/28/96

-3.8

-4.0

-4.2

-4.9

1.9

0.0

3/27/96

-2.8

-2.6

-2.2

-2.4

3.6

2.7

3.2

4/24/96

-3.8

-3.9

-4.0

-4.4

0.0

-1.5

-2.3

2/28/96


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

4.1

-3.3

Prepored by Federal Reserve Bank of St. Louis

Money Multiplier
Averages of Daily Figures
3.0

2.8-

Seasonally Adjusted

Ratio

Ratio

Compounded annual rates
of change, overage of
the four weeks ending
April 22, 1996, from
the four weeks ending:
Apr 24 . 1995
-J .

JuI 17,
Oct 23.
Nov

‘ 6 20 3
Mar

1995
1995
1995
1995
1996
1 996

20,

17

Apr

1

Feb 12
26
Mar 11
25
Apr 8

8
-5.8
-2.6
-3. 1
-2 0
-0 . 5
2.2

22

15 29 12 26 10 24

May

Jun

Jul

.375
2 .367
2 .389
2 .376
.381
2 .379

7 21
Aug

4

18 2
Sep

16 30 13 27 11 25 8
Oct

Nov

Dec

22

5

Jon

1995
Ratio of M1 to adjusted monetary base.

19 4
Feb

18

i

Mor

r 3. o

■2.8

15 29 13 27*
Apr

May

1996

Currency Component of M1
Billions of Dollars

Averages of Daily Figures
seasonally Adjusted

Billions of Dollars

Compounded annual rotes
of change, overage of
the four weeks ending
April 22. 1996, from
the four weeks ending:
Apr 24. 1 995
3 .
Jul 24 , 1 995
3 .
Nov
Dec

20'.

199

2 5.
19.

199

Billions
Mor 18

Apr

Sep

Oct

1995
Current data appeor in the Federal Reserve Boord's H.6 release.


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

■360

1

Apr

May

1996
Prepored by Federal Reserve Bank of St. Louis

5

6
Yields on Selected Securities
Averages of Daily Figures
Percent

Percent

Prime Rate

Corporate
Aaa Bonds

Municipal Bonds
5.0-

3

17 31 14 28 12 26 9 23 7 21

4

18

15 29 13 27 10 24 8 22 5

19

2

16

1

5 29 12 26 10 24
1996

1996
Feb

9
16
23
1
Mar
8
15
22
29
5
Apr
12
19
26
3
Moy

30-Day
Commercial
Paper

90-Day
CDs

90-Day
Bankers'
Acceptances

Corporate
Aaa Bonds

Corporate
Boa Bonds

5.28
5.29
5.28
5.30
5.31
5.37
5.44
5.48
5.42
5.42
5.39
5.38
5.39

5.15
5.13
5.14
5.16
5.19
5.31
5.33
5.34
5.34
5.39
5.36
5.34
5.35

5.06
5.05
5.07
5.09
5.11
5.23
5.26
5.26
5.26
5.31
5.28
5.26
5.28

6.87
6.86
7.13
7.20
7.21
7.42
7.41
7.39
7.41
7.60
7.50
7.48
7.56

7.50
7.50
7.77
7.86
7.90
8.10
8.10
8.09
8.12
8.30
8.19
8.16
8.24

Municipal
Bonds **
5.37
5.33
5.48
5.57
5.59
5.81
5.86
5.90
5.86
6.03
5.94
5.91
N.A.

Current doto ore from the Federol Reseve Board's H.15 release, and ore overages of rates ovoiloble for the
week ending on May 3, 1996 .
"
•• Bond Buyer's Average Index of 20 municipal bonds, Thursday doto
N.A. - Not Avoiloble


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

Prepored by Federol Reserve Bonk of St. Louis

Selected Interest Rates
Averoges of Doily Figures

Percent

Percent

- 7.0

10-Year
Treasury Securities

Federal
Funds Rate

Discount Rate

5.0-

3-Month
Treasury Bill
-4.0

3

17 31

14 28 12 26 9

Apr

May

23

Jun

7

21

4

18

Aug

15 29 13 27 10 24

Sep

8

22

5

19

2

16

1

15 29 12 26 10 24

Oct

Apr

Moy

1996

1996
Feb

9
16
23
Mor
1
8
15
22
29
Apr
5
12
19
26
May
3 •

Federol
Funds **
5.21
5.09
5.17
5.31
5.57
5.24
5.36
5.22
5.30
5.08
5.24
5.24
5.30

3-Month
Treosury
Bill 7

1 -Year
Treasury
Bill

5-Year
Treosury
Securities

10-Year
Treosury
Securities

Long-Term
Treosury
Securities

4.81
4.79
4.82
4.87
4.89
4.97
5.00
5.00
5.01
4.97
4.85
4.96
5.00

4.61
4.57
4.78
4.87
4.89
5.13
5.15
5.13
5.18
5.31
5.21
5.21
5.30

5.27
5.20
5.52
5.65
5.71
6.06
6.08
6.08
6.14
6.42
6.32
6.31
6.37

5.67
5.65
5.97
6.06
6.08
6.37
6.36
6.32
6.35
6.60
6.52
6.53
6.64

6.04
6.03
6.35
6.43
6.46
6.72
6.72
6.70
6.74
6.96
6.88
6.88
6.96

Except for long-term Treasury securities, which ore computed by this Bonk, current doto appear in the Federol
Reserve Board's H.15 release.
• Averoges of rotes ovoiloble
•• Seven-day overages for week ending two days earlier than dote shown
Prepared by Federol Reserve Bonk of St. Louis


http://fraser.stlouisfed.org
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 Dollors
Billions
3730.5
3721.7
3726.7
3737.2
3741.0
3731.0

Mor 18
Apr

1

Billions of Dollars

M2 (left scale)

Non-Mi M2 (right scale)

Non-Mi M2
)6
Billions
2600.3
Mor 18
Apr

1

2612.0
2616.3
2606.0
3

17

1

15 29 12 26 10 24
May
Jun

7 21
Aug

4

18 2 16 30 13 27 II 25 8 22
Sep
Oct

5

19 4 18 I 15 29 13 27
Feb
Mor
Apr
May
1996

M2 is the sum of Ml, savings (including money market deposit accounts), small time deposits and retail money
funds. Current dato appear in the Federol Reserve Board's H.6 releose.

Money Stock (M2)
Compounded annual rates of change, average of four weeks ending:
To the average
of four weeks
ending:

4/24/95

7/24/95

9/25/95 10/23/95 11/20/95 12/25/95

9/25/95

6.0

4.8

11/20/95

5.6

4.3

2.6

12/25/95

5.5

4.5

3.6

4.0

1/22/96

5.7

4.9

4.4

5.0

6.1

2/19/96

5.3

4.5

3.9

4.2

4.7

3/25/96

6.0

5.6

5.5

6.0

6.8

7.4

4/22/96

5.9

5.4

5.3

5.7

6.3

2/19/96

6.7

10/23/95

1/22/96

6.6


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

4.4

Prepared by Federal Reserve Bank of St. Louis

Savings and Small Time Deposits
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars
1996

Billions of Dollars

Savings

1300 ~ Mor 18

1055

Small Time

Billions
1 183.!
1180.

1996
Mar 18

Billions
927.3
926.5
925.9
926.1
925.1
924.2

1184.

1196.
1197.;

1015

975

Small Time (right scale)
935
895
855

Savings Deposits (left scale)

815

3

17 I IS 79 12 26 10 24
Apr
Moy
Jun

7 21
Aug

4

18 2 16 30 13 27 11 25 8 22
Sep
Oct

S

19 4

18

1

15 29 13 2?
Apr

1995
Sovings deposits ond small time deposits ore at all depository institutions.

Moy

1996

Large Time Deposits and Retail Money Funds
Averages of Doily Figures
seasonally Adjusted

Billions of Dollors
Large Time

Billions of Dollars
Retail Money
1996
Mar 18
488.7
489.2
489.7
493.9

Billions

Mar 18

429.4

430.6
431.4
430.8
433.1

.

Retail Money

Large Time

6 22 S

Aug

Sep

19 4

18

1

15 29 13 27*

Oct

1995
1996
Large time deposits and retail money funds ore at all despository institutions. Large time deposits ore those
issued in denominations of $100,000 or more. Retail money funds were originally colled general purpose
and broker/dealer money market funds.
Prepared by Federal Reserve Bonk of St. Louis


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

9

775

Total Borrowings
From Federal Reserve Banks
Averages of Daily Figures

Billions of Dollars
Mor 27

Apr

1

3

May

Billions of Dollars

Billions
0.023
0.040
0.053
0.028
0.215
0.085

1

15 29 12 26 10 24 7 21

Apr

Moy

5

19 2

16 30 13 27 11 25 8 22 6 20 3

Sep

Jun

17 31 14 28 13 27 10 24 8 22

Oct

Apr

1995
Borrowings include seosonal. adjustment and extended credit.

Moy

1996

Bank Loans and Credit
All Commercial Banks in the United States
Seasonally Adjusted

Billions of Dollars
Bonk Credit

Billions of Dollars 2800

Billions
3629.7

Mar 13

2740

3632.2
Apr

3640.6
3631.6
3645.2
3646.9

3

Bank Credit (left scale)2/
2680
2620
2560

Loans and Leases (right scale)

Loons&Leoses

Apr

1

15 29 12 26 10 24 7 21

Apr

Moy

5

19 2

16 30 13 27 11 25 8 22 6 20 3

Jun

1995
Current doto oppeor in the Federol Reserve Board's H.8 release.
1/ includes foreign-related institutions
2/ Includes loans and leases and securities


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

3

Billions
2649.8
2654.6
2657.9
2667.6
2669.5
2672.1

17 31 14 28 13 27 10 24 8 22
Apr
Moy

1996

Prepared by Federol Reserve Bonk of St. Louis

2500
2440
2380

Commercial Paper of Nonfinancial Companies
Not Seasonally Adjusted

Billions of Dollars
Mor 20
Apr

3

Billions of Dollars

Billions
198.690
193.575
194.159
194.739
203.140
207.071

200-

-

200

- 180

1

15 29 12 26 10 24

7 21

5

19

1995

Commercial and Industrial Loans
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Ail Banks

Apr
720-

3

Billions
725.1
727.7
729.1
730.4
732.4
733.2

- 400

All Bonks (left scale)1/

Large Banks
Large Banks (right scale)^/

1996
Mor 13
Apr

1

15 29 12 26 10 24

7

21

5

19

2

16 30 13 27 11 25

1995

8

22

6

20 3

17 31

3

Billions
351.5
352.8
355.0
355.6

14 28 13 27 10 24

1996

Current data appear in the Federal Reserve Board's H.8 release.
1/ Includes foreign-related institutions
2/ Weekly reporting, domestically chartered banks


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

Prepared by Federal Reserve Bank of St. Louis

11

Dollar's Trade-Weighted Exchange Index
Averages of Daily Figures
1973=100

1973=100

1973=100
Uar 27

-

1

15 29 12 26 10 24 7 21

5

19 2

16 30 13 27 11 25

22 6 20 3

17 31 14 28 13 27 10 24

1996

1995

Current data appear in the Federol Reserve Board's H.10 releose. Doto are weighted overages 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 Federol Reserve Bonk of St. Louis

cs
<

cs
Q

M

J
a

100