[Economic Report of the President (1998)] [Administration of William J. Clinton] [Online through the Government Printing Office, www.gpo.gov] MONEY STOCK, CREDIT, AND FINANCE Table B-69.--Money stock, liquid assets, and debt measures, 1959-97 [Averages of daily figures, except debt; billions of dollars, seasonally adjusted] -------------------------------------------------------------------------------------------------------------------------------------------------------- M1 M2 M3 L Debt\1\ Percent change from year or 6 -------------------------------------------------------------------- months earlier\2\ Sum of M1 plus ------------------------------- currency, retail M2 plus Debt of demand MMMF large time domestic deposits, balances, deposits, nonfinancial Year and month travelers savings RPs, Euro- M3 plus sectors checks, and deposits dollars, and other liquid (monthly M1 M2 M3 Debt other (including institution- assets average of checkable MMDAs), and only MMMF adjacent deposits small time balances month-end (OCDs) deposits levels) -------------------------------------------------------------------------------------------------------------------------------------------------------- December: 1959.............................................. 140.0 297.8 299.7 388.6 687.6 ...... ...... ...... 7.6 1960.............................................. 140.7 312.4 315.2 403.5 723.0 0.5 4.9 5.2 5.1 1961.............................................. 145.2 335.5 340.8 430.6 765.7 3.2 7.4 8.1 5.9 1962.............................................. 147.8 362.7 371.3 465.9 818.4 1.8 8.1 8.9 6.9 1963.............................................. 153.3 393.2 405.9 503.6 873.3 3.7 8.4 9.3 6.7 1964.............................................. 160.3 424.7 442.4 540.3 936.8 4.6 8.0 9.0 7.3 1965.............................................. 167.8 459.2 482.1 584.3 1,003.7 4.7 8.1 9.0 7.1 1966.............................................. 172.0 480.2 505.4 615.1 1,070.9 2.5 4.6 4.8 6.7 1967.............................................. 183.3 524.8 557.9 667.3 1,145.2 6.6 9.3 10.4 6.9 1968.............................................. 197.4 566.8 607.2 729.9 1,236.8 7.7 8.0 8.8 8.0 1969.............................................. 203.9 587.9 615.9 764.4 1,326.7 3.3 3.7 1.4 7.3 1970.............................................. 214.4 626.5 677.1 814.8 1,416.1 5.1 6.6 9.9 6.7 1971.............................................. 228.3 710.2 776.0 902.6 1,549.6 6.5 13.4 14.6 9.4 1972.............................................. 249.2 802.3 886.0 1,022.8 1,705.7 9.2 13.0 14.2 10.1 1973.............................................. 262.8 855.5 985.0 1,141.5 1,890.8 5.5 6.6 11.2 10.9 1974.............................................. 274.2 902.4 1,070.0 1,248.5 2,063.5 4.3 5.5 8.6 9.1 1975.............................................. 287.4 1,017.0 1,172.0 1,366.5 2,251.2 4.8 12.7 9.5 9.1 1976.............................................. 306.3 1,152.7 1,312.0 1,516.6 2,495.5 6.6 13.3 11.9 10.9 1977.............................................. 331.2 1,271.5 1,472.5 1,705.3 2,811.5 8.1 10.3 12.2 12.7 1978.............................................. 358.4 1,368.0 1,646.8 1,911.3 3,201.2 8.2 7.6 11.8 13.9 1979.............................................. 382.9 1,475.7 1,806.6 2,121.2 3,590.0 6.8 7.9 9.7 12.1 1980.............................................. 408.9 1,601.1 1,992.2 2,330.0 3,932.0 6.8 8.5 10.3 9.5 1981.............................................. 436.8 1,756.2 2,240.9 2,601.8 4,329.0 6.8 9.7 12.5 10.1 1982.............................................. 474.6 1,910.8 2,442.3 2,845.9 4,758.0 8.7 8.8 9.0 9.9 1983.............................................. 521.2 2,127.7 2,684.8 3,150.6 5,324.9 9.8 11.4 9.9 11.9 1984.............................................. 552.2 2,312.2 2,979.8 3,518.6 6,106.8 5.9 8.7 11.0 14.7 1985.............................................. 619.9 2,497.6 3,198.3 3,827.0 7,024.8 12.3 8.0 7.3 15.0 1986.............................................. 724.4 2,733.9 3,486.4 4,122.3 7,905.0 16.9 9.5 9.0 12.5 1987.............................................. 749.7 2,832.7 3,672.5 4,339.9 8,659.9 3.5 3.6 5.3 9.5 1988.............................................. 787.0 2,996.3 3,912.9 4,663.5 9,429.2 5.0 5.8 6.5 8.9 1989.............................................. 794.2 3,160.9 4,065.9 4,892.8 10,150.8 .9 5.5 3.9 7.7 1990.............................................. 825.8 3,279.5 4,125.9 4,976.6 10,825.4 4.0 3.8 1.5 6.6 1991.............................................. 897.3 3,379.6 4,180.4 5,006.2 11,301.9 8.7 3.1 1.3 4.4 1992.............................................. 1,025.0 3,434.0 4,190.4 5,078.0 11,842.0 14.2 1.6 .2 4.8 1993.............................................. 1,129.8 3,486.6 4,254.4 5,167.8 12,462.1 10.2 1.5 1.5 5.2 1994.............................................. 1,150.7 3,502.1 4,327.3 5,308.4 13,078.0 1.8 .4 1.7 4.9 1995.............................................. 1,129.0 3,655.0 4,592.5 5,697.6 13,773.3 -1.9 4.4 6.1 5.3 1996.............................................. 1,081.1 3,821.8 4,920.5 6,071.7 14,496.6 -4.2 4.6 7.1 5.3 1997 p............................................ 1,068.7 4,019.3 5,333.0 ............ ............ -1.1 5.2 8.4 ...... 1996: Jan........................................... 1,122.2 3,669.9 4,620.1 5,720.8 13,822.8 -4.0 4.8 5.6 4.4 Feb........................................... 1,119.8 3,685.0 4,652.9 5,739.5 13,895.8 -4.2 4.5 5.6 4.9 Mar........................................... 1,126.2 3,714.0 4,689.4 5,789.7 13,972.0 -2.7 5.2 6.2 5.3 Apr........................................... 1,123.6 3,724.5 4,706.3 5,826.0 14,035.3 -2.1 5.2 6.2 5.3 May........................................... 1,117.1 3,725.4 4,728.9 5,846.5 14,088.1 -2.8 4.7 6.6 5.2 June.......................................... 1,115.6 3,741.6 4,751.4 5,889.6 14,147.7 -2.4 4.7 6.9 5.4 July.......................................... 1,108.9 3,749.1 4,769.4 5,914.2 14,219.7 -2.4 4.3 6.5 5.7 Aug........................................... 1,099.9 3,759.7 4,787.7 5,942.1 14,273.7 -3.6 4.1 5.8 5.4 Sept.......................................... 1,093.3 3,769.7 4,816.5 5,981.5 14,322.1 -5.8 3.0 5.4 5.0 Oct........................................... 1,080.3 3,780.1 4,850.2 6,005.7 14,383.7 -7.7 3.0 6.1 5.0 Nov........................................... 1,080.1 3,799.8 4,877.6 6,040.0 14,446.6 -6.6 4.0 6.3 5.1 Dec........................................... 1,081.1 3,821.8 4,920.5 6,071.7 14,496.6 -6.2 4.3 7.1 4.9 1997: Jan........................................... 1,079.7 3,836.9 4,943.7 6,087.5 14,538.1 -5.3 4.7 7.3 4.5 Feb........................................... 1,080.7 3,852.3 4,984.3 6,138.7 14,595.8 -3.5 4.9 8.2 4.5 Mar........................................... 1,075.4 3,867.9 5,019.0 6,186.5 14,657.5 -3.3 5.2 8.4 4.7 Apr........................................... 1,065.3 3,885.7 5,058.4 6,243.7 14,728.7 -2.8 5.6 8.6 4.8 May........................................... 1,062.8 3,883.3 5,063.0 6,263.3 14,775.7 -3.2 4.4 7.6 4.6 June.......................................... 1,063.1 3,896.8 5,080.9 6,287.5 14,805.5 -3.3 3.9 6.5 4.3 July.......................................... 1,062.1 3,907.1 5,121.2 6,318.8 14,860.6 -3.3 3.7 7.2 4.4 Aug........................................... 1,069.6 3,941.3 5,168.2 6,380.1 14,917,8 -2.1 4.6 7.4 4.4 Sept.......................................... 1,060.8 3,959.8 5,204.9 6,421.2 14,975.9 -2.7 4.8 7.4 4.3 Oct........................................... 1,057.4 3,974.9 5,237.1 6,444.7 15,042.5 -1.5 4.6 7.1 4.3 Nov........................................... 1,064.0 3,997.8 5,285.0 6,507.5 15,107.9 .2 5.9 8.8 4.5 Dec .. 1.1 6.3 9.9 ...... -------------------------------------------------------------------------------------------------------------------------------------------------------- \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; monthly changes are from 6 months earlier at a simple annual rate. Note.--See Table B-70 for components. Source: Board of Governors of the Federal Reserve System.