[Economic Indicators July, 1999]
[Page Number 26]
[From the U.S. Government Publishing Office, www.gpo.gov]



 
                   MONEY, CREDIT, AND SECURITY MARKETS

MONEY STOCK AND DEBT MEASURES

In June, M2 growth was about unchanged from May, while M3 growth 
accelerated a little.
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                                 [Averages of daily figures, except as noted; billions of dollars, seasonally adjusted]
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                                                  M1                 M2                  M3              Debt          Percent change from year or 6
                                          -------------------------------------------------------------------------         months earlier \2\
                                                                                                        Debt of    ------------------------------------
                                                                                                       domestic
                                           Sum of currency,    M1 plus retail      M2 plus large     nonfinancial
                  Period                   demand deposits,    MMMF balances,      time deposits,       sectors
                                              travelers'      savings deposits       RPs, Euro-        (monthly
                                              checks, and    (including MMDAs),     dollars, and      average of       M1       M2       M3      Debt
                                            other checkable    and small time     institution- al   adjacent month-
                                           deposits (OCDs)        deposits         MMMF  balances     end levels)
                                                                                                          \1\
-------------------------------------------------------------------------------------------------------------------------------------------------------
1989:Dec.................................             792.6             3,159.9           4,091.0      r 10,156.8       0.8      5.5      4.0      7.3
1990:Dec.................................             824.6             3,279.1           4,155.6        10,823.2       4.0      3.8      1.6      6.6
1991:Dec.................................             896.7             3,379.8           4,208.6      r 11,296.2       8.7      3.1      1.3      4.4
1992:Dec.................................           1,024.4             3,434.0           4,220.0        11,817.7      14.2      1.6       .3      4.6
1993:Dec.................................           1,129.3             3,487.4           4,279.7      r 12,405.5      10.2      1.6      1.4      5.0
1994:Dec.................................           1,149.7             3,502.0           4,353.9        13,001.0       1.8       .4      1.7      4.8
1995:Dec.................................           1,126.7             3,649.1           4,618.5        13,697.7      -2.0      4.2      6.1      5.4
1996:Dec.................................           1,081.3             3,823.9           4,955.6      r 14,392.8      -4.0      4.8      7.3      5.1
1997:Dec.................................           1,074.9             4,046.6           5,404.7      r 15,094.9       -.6      5.8      9.1      4.9
1998:Dec.................................           1,093.4             4,402.0         r 5,996.2        16,026.1       1.7      8.8   r 10.9      6.2
 
1998:May.................................           1,078.2             4,174.8         r 5,630.6      r 15,467.0       2.0      7.5   r 10.3      5.9
      June ..............................           1,077.8             4,198.6         r 5,673.4      r 15,539.8        .5      7.5    r 9.9      5.9
      July ..............................           1,075.4             4,216.1         r 5,693.4      r 15,619.3        .3      7.1    r 8.9    r 6.1
      Aug ...............................           1,072.2             4,241.7         r 5,748.8      r 15,696.2       -.7      6.9      9.6    r 6.1
      Sept ..............................           1,074.7             4,285.5         r 5,811.6      r 15,766.5      -1.1      7.7      9.7      5.8
      Oct................................           1,080.4             4,326.9         r 5,873.1      r 15,850.3       -.3      8.3     10.2      5.9
      Nov................................           1,089.0             4,365.2         r 5,937.8      r 15,945.2       2.0      9.1     10.9      6.2
      Dec................................           1,093.4             4,402.0         r 5,996.2        16,026.1       2.9      9.7     11.4      6.3
 
1999:Jan.................................           1,091.0             4,426.1         r 6,017.3      r 16,099.1       2.9     10.0   r 11.4      6.1
      Feb r..............................           1,092.6             4,447.0           6,064.4        16,165.5       3.8      9.7     11.0      6.0
      Mar r..............................           1,102.0             4,457.2           6,058.3        16,259.7       5.1      8.0      8.5      6.3
      Apr r..............................           1,108.4             4,490.0           6,100.5        16,353.0       5.2      7.5      7.7      6.3
      Mayr...............................           1,104.7             4,507.4           6,124.4        16,423.5       2.9      6.5      6.3      6.0
      June...............................           1,101.0             4,523.4           6,150.3   ..............      1.4      5.5      5.1  .......
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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.