[Economic Report of the President (1999)]
[Administration of William J. Clinton]
[Online through the Government Printing Office, www.gpo.gov]



MONEY STOCK, CREDIT, AND FINANCE


[[Page 407]]


Table B-69.--Money stock, liquid assets, and debt measures, 1959-98
[Averages of daily figures, except debt; billions of dollars, seasonally adjusted]
--------------------------------------------------------------------------------------------------------------------------------------------------------
M1           M2           M3           L\1\         Debt\2\     Percent change from year or 6
--------------------------------------------------------------------        months earlier\3\
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         723.1      0.5     4.9     5.2     5.2
1961..............................................        145.2        335.5         340.8        430.6         765.8      3.2     7.4     8.1     5.9
1962..............................................        147.8        362.7         371.3        465.9         818.6      1.8     8.1     8.9     6.9
1963..............................................        153.3        393.2         405.9        503.6         873.6      3.7     8.4     9.3     6.7
1964..............................................        160.3        424.7         442.4        540.3         937.1      4.6     8.0     9.0     7.3
1965..............................................        167.8        459.2         482.1        584.3       1,004.1      4.7     8.1     9.0     7.1
1966..............................................        172.0        480.2         505.4        615.1       1,071.3      2.5     4.6     4.8     6.7
1967..............................................        183.3        524.8         557.9        667.3       1,145.7      6.6     9.3    10.4     6.9
1968..............................................        197.4        566.8         607.2        729.9       1,237.3      7.7     8.0     8.8     8.0
1969..............................................        203.9        587.9         615.9        764.4       1,327.4      3.3     3.7     1.4     7.3

1970..............................................        214.4        626.5         677.2        814.8       1,416.8      5.1     6.6    10.0     6.7
1971..............................................        228.3        710.3         776.0        902.6       1,550.5      6.5    13.4    14.6     9.4
1972..............................................        249.2        802.3         886.0      1,022.9       1,706.7      9.2    13.0    14.2    10.1
1973..............................................        262.9        855.5         985.0      1,141.5       1,891.8      5.5     6.6    11.2    10.8
1974..............................................        274.2        902.4       1,070.0      1,248.5       2,065.0      4.3     5.5     8.6     9.2
1975..............................................        287.4      1,017.0       1,172.0      1,366.5       2,252.9      4.8    12.7     9.5     9.1
1976..............................................        306.4      1,152.8       1,312.0      1,516.7       2,497.2      6.6    13.4    11.9    10.8
1977..............................................        331.3      1,271.5       1,472.5      1,705.4       2,813.3      8.1    10.3    12.2    12.7
1978..............................................        358.4      1,368.0       1,646.8      1,911.3       3,202.9      8.2     7.6    11.8    13.8
1979..............................................        382.9      1,475.8       1,806.6      2,121.2       3,591.8      6.8     7.9     9.7    12.1

1980..............................................        408.9      1,601.1       1,992.2      2,330.0       3,933.9      6.8     8.5    10.3     9.5
1981..............................................        436.8      1,756.2       2,240.9      2,601.8       4,345.6      6.8     9.7    12.5    10.5
1982..............................................        474.7      1,910.9       2,442.3      2,846.0       4,782.7      8.7     8.8     9.0    10.1
1983..............................................        521.2      2,127.7       2,684.9      3,150.7       5,352.1      9.8    11.3     9.9    11.9
1984..............................................        552.3      2,312.3       2,979.8      3,518.7       6,148.4      6.0     8.7    11.0    14.9
1985..............................................        619.9      2,497.7       3,198.4      3,827.1       7,068.4     12.2     8.0     7.3    15.0
1986..............................................        724.4      2,734.0       3,486.4      4,122.4       7,933.1     16.9     9.5     9.0    12.2
1987..............................................        749.7      2,832.7       3,672.7      4,340.0       8,673.6      3.5     3.6     5.3     9.3
1988..............................................        787.0      2,996.4       3,913.1      4,663.7       9,463.6      5.0     5.8     6.5     9.1
1989..............................................        794.2      3,161.0       4,066.3      4,893.2      10,157.0       .9     5.5     3.9     7.3

1990..............................................        825.8      3,279.6       4,126.8      4,977.5      10,823.2      4.0     3.8     1.5     6.6
1991..............................................        897.3      3,379.9       4,182.1      5,008.0      11,296.1      8.7     3.1     1.3     4.4
1992..............................................      1,025.0      3,434.7       4,193.5      5,081.4      11,818.2     14.2     1.6      .3     4.6
1993..............................................      1,129.9      3,487.5       4,258.9      5,173.3      12,407.3     10.2     1.5     1.6     5.0
1994..............................................      1,150.7      3,503.0       4,333.6      5,315.8      12,998.7      1.8      .4     1.8     4.8
1995..............................................      1,128.7      3,651.2       4,595.6      5,702.3      13,695.6     -1.9     4.2     6.0     5.4
1996..............................................      1,082.8      3,826.1       4,931.1      6,083.6      14,424.1     -4.1     4.8     7.3     5.3
1997..............................................      1,076.0      4,046.4       5,376.8      6,611.3      15,167.3      -.6     5.8     9.0     5.2
1998p.............................................      1,092.3      4,412.3       5,982.5  ............  ............     1.5     9.0    11.3  ......

1997:Jan............................................      1,080.8      3,840.8       4,956.8      6,109.0      14,464.9     -5.3     4.7     7.3     4.7
Feb.............................................      1,078.8      3,853.8       4,993.7      6,156.3      14,522.0     -3.9     4.9     8.2     4.6
Mar.............................................      1,075.0      3,869.7       5,028.1      6,200.2      14,582.1     -3.6     5.0     8.3     4.7
Apr.............................................      1,068.3      3,891.2       5,071.6      6,256.5      14,653.3     -2.5     5.6     8.6     4.8
May.............................................      1,064.3      3,894.5       5,088.2      6,287.2      14,703.4     -3.1     4.7     8.1     4.6
June............................................      1,065.4      3,910.5       5,111.7      6,314.8      14,736.3     -3.2     4.4     7.3     4.3
July............................................      1,065.6      3,925.2       5,152.3      6,348.5      14,798.6     -2.8     4.4     7.9     4.6
Aug.............................................      1,071.1      3,957.4       5,198.7      6,406.5      14,867.3     -1.4     5.4     8.2     4.8
Sept............................................      1,063.5      3,979.3       5,237.8      6,446.0      14,935.2     -2.1     5.7     8.3     4.8
Oct.............................................      1,061.9      3,999.3       5,274.8      6,481.0      15,010.5     -1.2     5.6     8.0     4.9
Nov.............................................      1,069.2      4,023.6       5,326.3      6,548.4      15,088.4       .9     6.6     9.4     5.2
Dec.............................................      1,076.0      4,046.4       5,376.8      6,611.3      15,167.3      2.0     7.0    10.4     5.8

1998:Jan............................................      1,073.7      4,071.6       5,423.3      6,683.3      15,240.9      1.5     7.5    10.5     6.0
Feb.............................................      1,076.5      4,104.5       5,464.1      6,756.8      15,321.6      1.0     7.4    10.2     6.1
Mar.............................................      1,081.1      4,133.2       5,530.1      6,831.7      15,404.4      3.3     7.7    11.2     6.3
Apr.............................................      1,080.7      4,166.1       5,579.7      6,863.9      15,481.8      3.5     8.3    11.6     6.3
May.............................................      1,077.7      4,175.9       5,613.3      6,887.1      15,555.0      1.6     7.6    10.8     6.2
June............................................      1,074.5      4,193.9       5,644.1      6,928.1      15,628.6      -.3     7.3     9.9     6.1
July............................................      1,071.9      4,210.1       5,652.5      6,926.1      15,710.3      -.3     6.8     8.5     6.2
Aug.............................................      1,069.0      4,238.8       5,712.4      6,982.0      15,792.2     -1.4     6.5     9.1     6.1
Sept............................................      1,072.3      4,289.9       5,785.0      7,065.2      15,870.0     -1.6     7.6     9.2     6.0
Oct.............................................      1,078.8      4,334.8       5,850.4  ............     15,959.3      -.4     8.1     9.7     6.2
Nov.............................................      1,087.8      4,373.6       5,924.9  ............     16,055.3      1.9     9.5    11.1     6.4
Dec.....     3.3    10.4    12.0  ......
--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\Series for monthly data no longer published by Federal Reserve (FR) and are shown for information only. See FR release H.6 Money Stock and Debt
Measures dated November 19, 1998.
\2\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.
\3\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.