[Economic Indicators September, 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 August, 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             3,640.3           4,636.0      r 13,669.1      -2.1      4.1      6.1       5.3
1996:Dec ................................           1,079.8             3,814.8           4,985.4      r 14,384.9      -4.2      4.8      7.5       5.2
1997:Dec.................................           1,072.2             4,030.8           5,460.7      r 15,152.0       -.7      5.7      9.5       5.3
1998:Dec.................................           1,094.8             4,383.4           6,052.0      r 16,183.1       2.1      8.7     10.8       6.8
1999:Dec.................................           1,122.6             4,648.5           6,551.7      r 17,253.4       2.5      6.0      8.3       6.4
2000:Dec.................................           1,087.0             4,930.7           7,117.7      r 18,098.8      -3.2      6.1      8.6       4.8
2001:Dec.................................           1,182.0             5,451.1           8,037.2      r 19,207.2       8.7     10.6     12.9     r 6.1
2002:Dec.................................           1,219.2             5,802.9           8,575.6      r 20,539.7       3.1      6.5      6.7       6.9
2003:Dec.................................           1,305.1             6,085.2           8,885.3      r 22,245.8       7.0      4.9      3.6       8.1
2004:Dec.................................           1,373.5             6,430.7           9,450.5      r 24,163.8       5.2      5.7      6.4       8.6
 
2004:Aug.................................           1,355.0             6,306.5           9,308.5   ..............      5.0      5.5      6.7  .........
      Sept...............................           1,359.1             6,341.2           9,358.8      r 23,677.8       3.7      5.3      6.1     r 8.5
      Oct................................           1,360.2             6,369.3           9,369.9   ..............      3.9      5.0      4.9  .........
      Nov................................           1,375.8             6,406.5           9,401.4   ..............      5.6      4.2      3.6  .........
      Dec................................           1,373.5             6,430.7           9,450.5      r 24,163.8       4.2      4.7      3.9       8.2
 
2005:Jan ................................           1,364.3             6,449.1           9,502.9   ..............      4.0      5.2      5.0  .........
      Feb ...............................           1,371.6           r 6,464.3           9,539.0   ..............      2.5      5.0      5.0  .........
      Mar r..............................           1,378.6             6,484.5           9,568.8        24,760.0       2.9      4.5      4.5       9.9
      Apr r..............................           1,361.0             6,481.4           9,620.6   ..............       .1      3.5      5.4  .........
      May r..............................           1,373.5             6,482.7           9,662.7   ..............      -.3      2.4      5.6  .........
      June r.............................           1,374.4             6,515.5           9,748.0        25,213.3        .1      2.6      6.3       7.3
      July r.............................           1,353.5             6,523.2           9,774.7   ..............     -1.6      2.3      5.7  .........
      Aug ...............................           1,368.8             6,549.9           9,873.9   ..............      -.4      2.6      7.0  .........
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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.