[Economic Indicators December, 2002]
[Page Number 26]
[From the U.S. Government Publishing Office, www.gpo.gov]



 
                   MONEY, CREDIT, AND SECURITY MARKETS

MONEY STOCK AND DEBT MEASURES

In November, M2 and M3 rose.
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                         [Averages of daily figures, except debt end-of-period basis; billions of dollars, seasonally adjusted]
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                                                  M1                 M2                  M3              Debt                  Percent change
                                          --------------------------------------------------------------------------------------------------------------
                                           Sum of currency,    M1 plus retail      M2 plus large                      From year or 6 months       From
                                           demand deposits,    MMMF balances,      time deposits,       Debt of             earlier\2\          previous
                  Period                      travelers'      savings deposits       RPs, Euro-        domestic    --------------------------- period\3\
                                              checks, and    (including MMDAs),     dollars, and     nonfinancial                             ----------
                                            other checkable    and small time     institution-  al    sectors\1\       M1       M2       M3
                                            deposits (OCDs)       deposits         MMMF  balances                                                 Debt
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1992:Dec.................................           1,024.0             3,430.3           4,215.4        11,839.9      14.3      1.6      0.3       4.6
1993:Dec.................................           1,129.1             3,483.0           4,277.4        12,434.1      10.3      1.5      1.5       4.9
1994:Dec.................................           1,149.7             3,496.0           4,360.1        13,001.5       1.8       .4      1.9       4.5
1995:Dec ................................           1,126.5             3,639.8           4,625.7        13,706.9      -2.0      4.1      6.1       5.4
1996:Dec ................................           1,079.1             3,813.8           4,971.6        14,440.2      -4.2      4.8      7.5       5.3
1997:Dec ................................           1,072.2             4,030.5           5,447.5        15,243.1       -.6      5.7      9.6       5.6
1998:Dec ................................           1,096.5             4,383.9           6,037.7        16,285.5       2.3      8.8     10.8       6.8
1999:Dec ................................           1,124.4             4,654.2           6,539.6        17,377.6       2.5      6.2      8.3       6.5
2000:Dec ................................           1,088.9             4,938.6           7,109.9        18,250.6      -3.2      6.1      8.7       4.9
2001:Dec ................................           1,179.3             5,458.6           8,027.0        19,369.2       8.3     10.5     12.9       6.1
 
2001:Nov ................................           1,163.8             5,414.4           7,956.5   ..............      8.5     10.7     11.5  .........
      Dec ...............................           1,179.3             5,458.6           8,027.0        19,369.2       9.5     10.5     10.9       6.4
 
2002:Jan ................................           1,182.9             5,468.2           8,018.8   ..............      7.8      9.2      9.5  .........
      Feb ...............................           1,184.8             5,498.8           8,057.0   ..............      6.5      8.9     10.2  .........
      Mar ...............................           1,187.8             5,493.0           8,051.8        19,601.0      -2.0      4.4      5.9       4.8
      Apr ...............................           1,176.7             5,476.5           8,038.7   ..............      2.7      4.0      4.4  .........
      May ...............................           1,183.4             5,542.4           8,118.5   ..............      3.4      4.7      4.1  .........
      June ..............................           1,190.2             5,576.4         r 8,159.2        20,004.5       1.8      4.3      3.3       8.2
      July ..............................           1,197.4             5,635.5         r 8,217.3   ..............      2.5      6.1    r 5.0  .........
      Aug ...............................           1,183.2             5,680.2         r 8,291.3   ..............      -.3      6.6    r 5.8  .........
      Sept ..............................           1,191.2           r 5,705.4         r 8,326.7        20,336.8        .6      7.7    r 6.8       6.6
      Oct ...............................           1,199.6             5,753.8         r 8,347.9   ..............      3.9     10.1    r 7.7  .........
      Nov................................           1,200.7             5,800.7           8,490.2   ..............      2.9      9.3      9.2  .........
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    \1\ Quarterly data; shown in 
last month of quarter. End-of-year 
data are for fourth quarter. 
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.
    \3\ Annual changes are from 
fourth quarter to fourth quarter. 
Quarterly changes are from previous 
quarter at an annual rate.
    Note.--See p. 27 for components.

    Source: Board of Governors of 
the Federal Reserve System.