[Economic Indicators December, 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 rose in November 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        r7,036.3      12.3      8.3      7.3    r15.1
1986:Dec......................             724.4             2,820.3           3,488.7      4,129.1        r7,924.6      16.9      9.5      9.0    r12.6
1987:Dec......................             749.8             2,922.3           3,675.8      4,334.8        r8,671.2       3.5      3.6      5.4     r9.4
1988:Dec......................             786.9             3,083.5           3,915.7      4,670.1        r9,446.4       4.9      5.5      6.5     r8.9
1989:Dec......................             794.2             3,243.1           4,066.1      4,896.5       r10,173.5        .9      5.2      3.8     r7.7
1990:Dec......................             825.9            r3,356.1          r4,123.2      4,972.6       r10,851.2       4.0      3.5      1.4     r6.7
1991:Dec......................             897.3             3,457.9           4,176.0      4,989.8       r11,335.6       8.6      3.0      1.3      4.5
1992:Dec......................           1,024.4             3,515.3           4,182.9      5,059.3       r11,878.1      14.2      1.7       .2      4.8
1993:Dec......................           1,128.6             3,583.6           4,242.3      5,145.7       r12,514.2      10.2      1.9      1.4     r5.4
1994:Dec......................           1,148.0             3,616.9          r4,303.9     r5,269.7       r13,150.8       1.7       .9      1.5     r5.1
                                                                                                                                                        
1994:Oct......................           1,148.2             3,610.2          r4,286.3     r5,237.4       r13,034.5        .9       .3      1.7      4.7
      Nov.....................           1,147.6             3,611.9          r4,291.9     r5,248.5       r13,108.9        .7       .2     r2.0     r4.8
      Dec.....................           1,148.0             3,616.9          r4,303.9     r5,269.7       r13,150.8        .2       .6      2.3     r4.8
                                                                                                                                                        
1995:Jan......................           1,149.0             3,628.9          r4,326.9     r5,295.1       r13,198.7       -.6       .7      2.5     r5.2
      Feb.....................           1,147.3             3,624.7          r4,336.7     r5,335.0       r13,275.3       -.6       .5      2.9     r5.4
      Mar.....................           1,147.9             3,632.4          r4,359.9     r5,378.1       r13,336.5       -.5      1.0      3.7      5.4
      Apr.....................           1,149.7             3,645.6          r4,382.8     r5,405.3       r13,413.4        .3      2.0      4.5      5.8
      May.....................           1,143.0             3,662.3          r4,412.2     r5,433.8       r13,514.9       -.8      2.8      5.6     r6.2
      June....................           1,143.9             3,698.6          r4,459.4     r5,471.4       r13,574.9       -.7      4.5      7.2      6.4
      July....................           1,144.9             3,717.8          r4,490.5     r5,524.1       r13,602.6       -.7      4.9      7.6     r6.1
      Aug.....................           1,143.4             3,743.5          r4,519.2     r5,559.5       r13,642.8       -.7      6.6      8.4     r5.5
      Sept....................           1,139.7             3,757.3          r4,534.4     r5,596.6       r13,684.4      -1.4      6.9     r8.0      5.2
      Oct.....................           1,129.8            r3,754.3          r4,546.1             p5,616.2        p13,72-3.5      6.0      7.5      4.7
      Novp....................           1,126.6             3,763.5           4,551.6  ............  ..............     -2.9      5.5      6.3  .......
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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.
    Data for November 1995 and prior 
monthly revisions not plotted in 
chart.

    Source: Board of Governors of 
the Federal Reserve System.