[Economic Indicators November, 1995]
[Page Number 26]
[From the U.S. Government Publishing Office, www.gpo.gov]



 
                   MONEY, CREDIT, AND SECURITY MARKETS

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

M2 fell in October and growth in M3 slowed.
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                                 [Averages of daily figures, except as noted; billions of dollars, seasonally adjusted]                                 
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                                       M1                 M2                 M3               L            Debt          Percent change from year or 6  
                               --------------------------------------------------------------------------------------          months earlier\2\        
                                                   M1 plus overnight                                                 -----------------------------------
                                                        RPs and                                                                                         
                                Sum of currency,   Eurodollars, MMMF    M2 plus large                     Debt of                                       
            Period              demand deposits,   balances (general   time deposits,      M3 plus       domestic                                       
                                   travelers'     purpose and broker/  term RPs, term   other liquid   nonfinancial                                     
                                   checks, and      dealer), MMDAs,   Eurodollars, and     assets         sectors        M1       M2       M3      Debt 
                                 other checkable    and savings and   institution-only                   (monthly                                       
                                 deposits (OCDs)      small time        MMMF balances                   average)\1\                                     
                                                       deposits                                                                                         
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1985:Dec......................             619.9             2,576.1           3,200.2      3,827.5         6,902.1      12.3      8.3      7.3     14.8
1986:Dec......................             724.4             2,820.3           3,488.7      4,129.1         7,785.2      16.9      9.5      9.0     12.8
1987:Dec......................             749.8             2,922.3           3,675.8      4,334.8         8,544.6       3.5      3.6      5.4      9.8
1988:Dec......................             786.9             3,083.5           3,915.7      4,670.1         9,315.0       4.9      5.5      6.5      9.0
1989:Dec......................             794.2             3,243.1           4,066.1      4,896.5        10,045.8        .9      5.2      3.8      7.8
1990:Dec......................             825.9             3,355.9           4,123.0      4,972.6        10,695.1       4.0      3.5      1.4      6.5
1991:Dec......................             897.3             3,457.9           4,176.0      4,989.8        11,179.9       8.6      3.0      1.3      4.5
1992:Dec......................           1,024.4             3,515.3           4,182.9      5,059.3        11,719.6      14.2      1.7       .2      4.8
1993:Dec......................           1,128.6             3,583.6           4,242.3     r5,145.7        12,341.5      10.2      1.9      1.4      5.3
1994:Decr.....................           1,148.0             3,616.9           4,304.1      5,269.9        12,961.0       1.7       .9      1.5      5.0
                                                                                                                                                        
1994:Sept.....................           1,151.0            r3,614.1          r4,280.1     r5,224.7       r12,804.1       1.7       .9      1.9      4.9
      Oct.....................           1,148.2            r3,610.2          r4,286.5     r5,237.6       r12,852.3        .9       .3      1.7      4.7
      Nov.....................           1,147.6            r3,611.9          r4,292.0     r5,248.7       r12,920.7        .7       .2      1.9     r4.9
      Dec.....................           1,148.0            r3,616.9          r4,304.1     r5,269.9       r12,961.0        .2       .6     r2.3      4.9
                                                                                                                                                        
1995:Jan......................           1,149.0            r3,628.9          r4,327.1      5,295.2       r13,013.9       -.6       .7      2.5      5.3
      Feb.....................           1,147.3            r3,624.7          r4,336.8     r5,335.2       r13,092.6       -.6       .5      2.9      5.5
      Mar.....................           1,147.9            r3,632.4          r4,360.1     r5,378.3       r13,152.0       -.5      1.0      3.7     r5.4
      Apr.....................           1,149.7            r3,645.6          r4,383.0     r5,405.5       r13,223.4        .3      2.0      4.5     r5.8
      May.....................           1,143.0            r3,662.3          r4,412.4      5,433.9       r13,317.2       -.8      2.8      5.6     r6.1
      June....................           1,143.9            r3,698.6          r4,459.5      5,471.6       r13,375.9       -.7      4.5      7.2      6.4
      Julyr...................           1,144.9             3,717.8           4,490.6      5,524.2        13,415.0       -.7      4.9      7.6      6.2
      Augr....................           1,143.4             3,743.5           4,519.6      5,560.5        13,456.9       -.7      6.6      8.4      5.6
      Septr...................           1,139.7             3,757.3           4,535.7             p5,601.9        p13,49-1.4      6.9      8.1      5.2
      Oct.....................           1,129.8             3,755.1           4,548.2  ............  ..............     -3.5      6.0      7.5  .......
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    \1\Consists of outstanding 
credit market debt of the U.S. 
Government, State and local 
governments, and private 
nonfinancial sectors; data from flow 
of funds accounts.
    \2\Annual changes are from 
December to December and monthly 
changes are from 6 months earlier at 
a simple annual rate.
    Note.--See p. 27 for components.

    Source: Board of Governors of 
the Federal Reserve System.