[Economic Indicators March, 1998]
[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 grew at a faster rate in February than in January, while M3 growth
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\
Debt of -----------------------------------
M2 plus large domestic
Sum of currency, M1 plus retail time deposits, nonfinancial
Period demand deposits, MMMF balances, RPs, Euro- M3 plus sectors
travelers' savings deposits dollars, and other liquid (monthly
checks, and (including MMDAs), institution- assets average of M1 M2 M3 Debt
other checkable and small time only MMMF adjacent month-
deposits (OCDs) deposits balances end levels)
\1\
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1988:Dec ..................... 787.0 2,996.4 3,913.1 4,663.7 r 9,458.6 5.0 5.8 6.5 r 9.1
1989:Dec ..................... 794.2 3,161.0 4,066.3 4,893.2 r 10,151.0 .9 5.5 3.9 r 7.3
1990:Dec ..................... 825.8 3,279.6 4,126.8 4,977.5 r 10,816.8 4.0 3.8 1.5 6.6
1991:Dec ..................... 897.3 3,379.9 4,182.1 5,008.0 r 11,290.4 8.7 3.1 1.3 4.4
1992:Dec ..................... 1,025.0 3,434.7 4,193.5 5,081.4 r 11,812.8 14.2 1.6 .3 r 4.6
1993:Dec ..................... 1,129.9 3,487.5 4,258.9 5,173.0 r 12,403.1 10.2 1.5 1.6 r 5.0
1994:Dec ..................... 1,150.7 3,503.0 4,333.6 5,315.8 r 12,998.7 1.8 .4 1.8 r 4.8
1995:Dec ..................... 1,128.7 3,651.2 4,595.6 5,702.2 r 13,699.2 -1.9 4.2 6.0 r 5.4
1996:Dec ..................... 1,082.8 3,826.1 4,935.5 r 6,088.3 r 14,419.9 -4.1 4.8 7.4 5.3
1997:Dec ..................... 1,076.0 4,040.2 r 5,375.7 r 6,619.6 r 15,153.5 -.6 5.6 8.9 r 5.1
1997:Jan ..................... 1,080.8 3,840.7 4,961.1 r 6,113.4 r 14,462.7 -5.3 4.6 7.4 4.5
Feb .................... 1,078.8 3,853.3 4,997.8 r 6,160.4 r 14,523.2 -3.9 4.8 8.2 r 4.6
Mar .................... 1,075.0 3,868.9 5,032.0 r 6,204.1 r 14,587.6 -3.6 5.0 8.3 r 4.8
Apr .................... 1,068.3 3,890.0 5,075.2 r 6,260.1 r 14,661.3 -2.5 5.5 8.6 r 5.0
May .................... 1,064.3 3,892.7 5,091.2 r 6,290.3 r 14,710.6 -3.1 4.6 8.1 r 4.7
June ................... 1,065.4 3,908.2 5,114.3 r 6,317.3 r 14,743.0 -3.2 4.3 7.2 r 4.5
July ................... 1,065.6 3,922.0 5,154.2 r 6,349.9 r 14,800.4 -2.8 4.2 7.8 r 4.7
Aug .................... 1,071.1 3,953.1 5,199.3 r 6,406.5 r 14,860.1 -1.4 5.2 8.1 r 4.6
Sept ................... 1,063.6 3,973.8 5,237.2 r 6,445.0 r 14,919.7 -2.1 5.4 8.2 r 4.6
Oct .................... 1,061.9 3,993.2 r 5,274.4 r 6,482.5 r 14,993.7 -1.2 5.3 r 7.8 r 4.5
Nov .................... 1,069.2 4,017.5 r 5,325.8 r 6,553.7 r 15,075.0 .9 6.4 9.2 r 5.0
Dec .................... 1,076.0 4,040.2 r 5,375.7 r 6,619.6 r 15,153.5 2.0 6.8 10.2 r 5.6
1998:Jan ..................... 1,073.3 r 4,064.6 r 5,423.7 p 6,694.4 p 15,221.4 7.3 10.5 5.8
Feb .................... 1,075.8 4,096.1 5,462.2 ............ .............. .9 7.2 10.1 .......
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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 derived
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.