[Economic Indicators April, 2005]
[Page Number 26]
[From the U.S. Government Publishing Office, www.gpo.gov]



 
                   MONEY, CREDIT, AND SECURITY MARKETS

MONEY STOCK AND DEBT MEASURES

In March, 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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1995:Dec ................................           1,126.9             3,640.9           4,636.0        13,672.7      -2.1      4.1      6.1       5.3
1996:Dec ................................           1,079.8             3,817.0           4,985.4        14,388.8      -4.2      4.8      7.5       5.2
1997:Dec ................................           1,072.2             4,032.0           5,460.5        15,155.8       -.7      5.6      9.5       5.3
1998:Dec ................................           1,094.8             4,384.3           6,051.9        16,194.1       2.1      8.7     10.8       6.9
1999:Dec ................................           1,122.4             4,649.8           6,551.9        17,262.1       2.5      6.1      8.3       6.4
2000:Dec ................................           1,087.5             4,934.3           7,120.3        18,109.9      -3.1      6.1      8.7       4.8
2001:Dec ................................           1,179.1             5,450.7           8,034.8        19,225.7       8.4     10.5     12.8       6.2
2002:Dec ................................           1,216.7             5,803.7           8,572.9        20,541.4       3.2      6.5      6.7       6.8
2003:Dec ................................           1,299.2             6,083.4         r 8,889.2        22,249.5       6.8      4.8    r 3.7       8.1
2004:Dec ................................         r 1,367.3             6,428.4         r 9,453.4        24,180.7       5.2      5.7      6.3       8.6
 
2004:Mar ................................           1,327.5             6,174.4         r 9,088.0        22,768.7       5.9      2.7    r 4.0       9.3
      Apr ...............................           1,327.9             6,212.4         r 9,154.3   ..............      5.8      4.2    r 5.6  .........
      May ...............................           1,331.8             6,271.0         r 9,243.8   ..............      6.2      6.3    r 8.0  .........
      June ..............................           1,338.7             6,283.2         r 9,284.4        23,192.7       6.1      6.6    r 8.9       7.4
      July ..............................           1,331.4             6,285.1         r 9,288.4   ..............      5.3      6.2    r 7.6  .........
      Aug ...............................           1,349.2             6,306.1         r 9,320.8   ..............      5.2      5.6      6.9  .........
      Sept ..............................           1,353.8           r 6,341.1         r 9,369.1        23,688.7       4.0      5.4      6.2       8.3
      Oct  ..............................           1,353.8             6,367.6         r 9,377.6   ..............      3.9      5.0      4.9  .........
      Nov ...............................           1,368.8             6,404.5         r 9,406.9   ..............      5.6      4.3    r 3.5  .........
      Dec ...............................         r 1,367.3             6,428.4         r 9,453.4        24,180.7       4.3      4.6    r 3.6       8.3
 
2005:Jan r...............................           1,357.7             6,441.9           9,493.5   ..............      4.0      5.0      4.4  .........
      Feb r..............................           1,365.0             6,455.7           9,512.9   ..............      2.3      4.7      4.1  .........
      Mar p..............................           1,371.9             6,474.9           9,526.6   ..............      2.7      4.2      3.4  .........
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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.
    See p. 27 for components.

    Source: Board of Governors of 
the Federal Reserve System.