Board of Governors of the Federal Reserve System

Money Stock Measures - H.6

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Current Release (33 KB PDF)

Release Date: January 23, 2014

MONEY STOCK REVISIONS

The Federal Reserve has revised the measures of the money stock and its components to incorporate the results of the Federal Reserve's annual review of seasonal factors and a new quarterly benchmark. This release includes revised monthly and weekly seasonal factors as well as comparisons of the revised monetary aggregates with previously published data. The revisions to the seasonal factors resulted in a higher growth rate for seasonally adjusted M2 in the first half of 2013 and a lower growth rate for seasonally adjusted M2 in the second half.

The benchmark incorporates minor revisions to data reported in the quarterly deposit reports, and it takes account of deposit data from Call Reports for banks and thrift institutions that are not weekly or quarterly deposit reporters. These revisions to deposit data start in 2012. In addition, this release incorporates data from Call Reports on the amount of small-denomination time deposits held in individual retirement accounts (IRAs) and Keogh accounts; related revisions to deposit data start in 2012. Likewise, the benchmark incorporates revisions to IRA and Keogh balances held at retail and institutional money market mutual funds; these revisions to data on money market mutual funds begin in 2013. This release also incorporates the receipt of historical information from other sources of data.

Seasonally adjusted measures of the monetary aggregates and components incorporate revised seasonal factors, which were derived from data through December 2013. Monthly seasonal factors were estimated using the X-12-ARIMA procedure. The effects of both the new benchmark and the revisions to seasonal factors on the growth rates of M1 and M2 are outlined in appendix tables 6 and 7.

Historical data, updated each week, are available with the H.6 statistical release at www.federalreserve.gov/releases.

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Table 1
Money Stock Measures. Billions of dollars.
Date Seasonally adjusted Not seasonally adjusted
M1 1 M2 2 M1 1 M2 2
Jan. 2012 2,199.6 9,707.5 2,208.7 9,724.6
Feb. 2012 2,212.1 9,760.0 2,194.0 9,749.8
Mar. 2012 2,228.5 9,802.1 2,245.4 9,865.9
Apr. 2012 2,250.4 9,856.7 2,268.1 9,911.4
May 2012 2,254.2 9,886.0 2,247.9 9,844.7
June 2012 2,269.6 9,948.7 2,265.8 9,922.2
July 2012 2,322.1 10,022.1 2,307.2 9,966.9
Aug. 2012 2,346.7 10,086.0 2,328.1 10,029.6
Sept. 2012 2,383.5 10,157.7 2,351.8 10,125.5
Oct. 2012 2,415.4 10,214.1 2,410.0 10,205.5
Nov. 2012 2,407.7 10,279.9 2,410.2 10,303.1
Dec. 2012 2,447.2 10,406.8 2,505.3 10,490.9
Jan. 2013 2,464.5 10,442.6 2,477.8 10,465.0
Feb. 2013 2,473.5 10,454.7 2,451.9 10,438.3
Mar. 2013 2,476.4 10,519.8 2,493.2 10,584.5
Apr. 2013 2,517.8 10,553.7 2,538.6 10,613.1
May 2013 2,525.8 10,590.8 2,515.0 10,536.7
June 2013 2,529.1 10,638.9 2,519.7 10,601.7
July 2013 2,558.3 10,702.2 2,541.3 10,642.8
Aug. 2013 2,560.3 10,756.2 2,537.8 10,700.5
Sept. 2013 2,587.0 10,802.2 2,557.4 10,770.5
Oct. 2013 2,625.8 10,900.1 2,623.4 10,894.7
Nov. 2013 2,612.2 10,908.9 2,611.5 10,934.0
Dec. 2013 2,648.5 10,958.9 2,717.7 11,052.4

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Percent change at seasonally adjusted annual rates M1 M2
3 Months from Sept. 2013 TO Dec. 2013 9.5 5.8
6 Months from June 2013 TO Dec. 2013 9.4 6.0
12 Months from Dec. 2012 TO Dec. 2013 8.2 5.3

Footnotes

Components may not add to totals due to rounding.

  1. M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) traveler's checks of nonbank issuers; (3) demand deposits at commercial banks (excluding those amounts held by depository institutions, the U.S. government, and foreign banks and official institutions) less cash items in the process of collection and Federal Reserve float; and (4) other checkable deposits (OCDs), consisting of negotiable order of withdrawal (NOW) and automatic transfer service (ATS) accounts at depository institutions, credit union share draft accounts, and demand deposits at thrift institutions. Seasonally adjusted M1 is constructed by summing currency, traveler's checks, demand deposits, and OCDs, each seasonally adjusted separately.
  2. M2 consists of M1 plus (1) savings deposits (including money market deposit accounts); (2) small-denomination time deposits (time deposits in amounts of less than $100,000), less individual retirement account (IRA) and Keogh balances at depository institutions; and (3) balances in retail money market mutual funds, less IRA and Keogh balances at money market mutual funds. Seasonally adjusted M2 is constructed by summing savings deposits, small-denomination time deposits, and retail money funds, each seasonally adjusted separately, and adding this result to seasonally adjusted M1.

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Table 2
Money Stock Measures. Billions of dollars.
Period ending Seasonally adjusted Not seasonally adjusted
M1 M2 M1 M2
13-week
average
4-week
average
week
average
13-week
average
4-week
average
week
average
13-week
average
4-week
average
week
average
13-week
average
4-week
average
week
average
Oct. 21, 2013 2,584.9 2,619.1 2,657.8 10,799.6 10,879.2 10,939.8 2,563.9 2,600.8 2,641.9 10,763.3 10,878.6 10,937.6
Oct. 28, 2013 2,589.8 2,627.9 2,634.6 10,815.0 10,899.9 10,938.4 2,568.8 2,605.7 2,711.7 10,782.5 10,894.8 10,857.3
Nov. 4, 2013 2,593.7 2,634.9 2,606.2 10,828.1 10,914.0 10,901.8 2,577.8 2,643.1 2,665.7 10,799.8 10,912.4 10,936.9
Nov. 11, 2013 2,597.3 2,624.5 2,599.4 10,839.3 10,916.9 10,887.4 2,583.1 2,634.3 2,517.9 10,815.8 10,912.6 10,918.6
Nov. 18, 2013 2,602.2 2,612.5 2,609.7 10,851.1 10,905.3 10,893.4 2,588.1 2,615.1 2,565.2 10,834.9 10,913.2 10,939.9
Nov. 25, 2013 2,605.6 2,607.9 2,616.4 10,862.5 10,902.6 10,927.9 2,592.7 2,602.2 2,660.1 10,853.1 10,923.1 10,897.1
Dec. 2, 2013 2,609.7 2,614.5 2,632.6 10,874.0 10,912.1 10,939.7 2,598.2 2,622.8 2,747.8 10,872.0 10,934.9 10,984.1
Dec. 9, 2013 2,615.5 2,627.9 2,652.9 10,887.2 10,925.9 10,942.4 2,606.9 2,639.5 2,585.0 10,890.6 10,960.4 11,020.5
Dec. 16, 2013 2,621.1 2,638.9 2,653.6 10,900.7 10,939.7 10,948.7 2,618.4 2,653.8 2,622.1 10,910.6 10,987.1 11,046.6
Dec. 23, 2013 2,626.9 2,651.9 2,668.5 10,913.4 10,952.2 10,977.8 2,634.3 2,680.5 2,767.1 10,937.0 11,029.1 11,065.1
Dec. 30, 2013 2,629.0 2,650.3 2,626.0 10,922.4 10,960.3 10,972.2 2,648.5 2,712.7 2,876.6 10,958.7 11,051.9 11,075.2
Jan. 6, 2014 2,633.5 2,646.4 2,637.4 10,931.3 10,965.2 10,962.0 2,663.7 2,745.0 2,714.1 10,978.2 11,076.8 11,120.1
Jan. 13, 2014 2,635.0 2,648.1 2,660.4 10,940.0 10,975.0 10,988.0 2,666.6 2,737.2 2,591.1 10,989.9 11,082.4 11,069.3

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Percent change at seasonally adjusted annual rates M1 M2
Thirteen weeks ending January 13, 2014 from thirteen weeks ending:
Oct. 14, 2013 (13 weeks previous) 8.7 5.8
July 15, 2013 (26 weeks previous) 8.2 6.1
Jan. 14, 2013 (52 weeks previous) 8.4 5.8

Footnotes

Components may not add to totals due to rounding.

Note: Special caution should be taken in interpreting week-to-week changes in money supply data, which are highly volatile and subject to revision.

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Table 3
Seasonally Adjusted Components of M1. Billions of dollars.
Date Currency 1 Traveler's checks 2 Demand deposits 3 Other checkable deposits
At commercial banks 4 At thrift institutions 5 Total
Month
Aug. 2012 1,059.4 3.9 849.8 245.0 188.6 433.6
Sept. 2012 1,067.7 3.9 878.5 242.2 191.1 433.4
Oct. 2012 1,076.4 3.9 897.8 246.3 191.0 437.4
Nov. 2012 1,082.7 3.9 886.8 241.3 193.0 434.3
Dec. 2012 1,090.0 3.8 908.9 246.5 197.9 444.4
Jan. 2013 1,096.7 3.8 913.0 253.1 197.9 451.0
Feb. 2013 1,099.8 3.8 918.5 250.5 200.9 451.4
Mar. 2013 1,104.6 3.8 916.2 248.5 203.3 451.8
Apr. 2013 1,110.5 3.7 947.3 252.2 204.0 456.3
May 2013 1,117.4 3.7 947.9 252.5 204.3 456.7
June 2013 1,123.8 3.7 946.0 249.8 205.8 455.6
July 2013 1,131.3 3.6 961.5 253.3 208.7 461.9
Aug. 2013 1,137.7 3.6 959.1 251.0 208.8 459.9
Sept. 2013 1,144.6 3.6 973.0 255.8 210.0 465.8
Oct. 2013 1,150.5 3.6 1,006.5 254.8 210.5 465.2
Nov. 2013 1,153.4 3.5 990.4 253.0 212.0 465.0
Dec. 2013 1,159.8 3.5 1,016.1 256.4 212.7 469.1
             
Week ending
Nov. 18, 2013 1,152.3 3.5 988.3 254.1 211.4 465.5
Nov. 25, 2013 1,153.4 3.5 995.9 250.7 212.9 463.6
Dec. 2, 2013 1,157.1 3.5 1,004.4 253.8 213.7 467.5
Dec. 9, 2013 1,158.1 3.5 1,017.1 262.0 212.1 474.2
Dec. 16, 2013 1,159.5 3.5 1,019.5 258.2 213.0 471.2
Dec. 23, 2013 1,160.3 3.5 1,034.6 257.2 213.0 470.2
Dec. 30, 2013 1,161.5 3.5 999.5 248.8 212.7 461.5
Jan. 6, 2014 1,163.1 3.5 1,002.9 257.3 210.6 467.9
Jan. 13, 2014 1,165.4 3.5 e 1,014.8 261.4 215.3 476.7

Footnotes

Components may not add to totals due to rounding.

e estimated

  1. Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions.
  2. Outstanding amount of U.S. dollar-denominated traveler's checks of nonbank issuers. Traveler's checks issued by depository institutions are included in demand deposits.
  3. Demand deposits at domestically chartered commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations (excluding those amounts held by depository institutions, the U.S. government, and foreign banks and official institutions) less cash items in the process of collection and Federal Reserve float.
  4. NOW and ATS balances at domestically chartered commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
  5. NOW and ATS balances at thrift institutions, credit union share draft balances, and demand deposits at thrift institutions.

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Table 4
Seasonally Adjusted Components of Non-M1 M2. Billions of dollars.
Date Savings deposits 1 Small-denomination time deposits 2 Retail
money funds 3
Total
non-M1 M2
Memorandum:
Institutional
money funds 4
At commercial
banks
At thrift
institutions
Total At commercial
banks
At thrift
institutions
Total
Month
Aug. 2012 5,407.9 1,027.3 6,435.2 485.0 193.1 678.1 626.0 7,739.3 1,744.5
Sept. 2012 5,455.2 1,028.0 6,483.2 478.5 189.5 667.9 623.1 7,774.3 1,746.4
Oct. 2012 5,488.3 1,031.0 6,519.3 470.2 186.2 656.3 623.0 7,798.7 1,739.4
Nov. 2012 5,648.9 949.7 6,598.7 465.1 179.8 644.9 628.6 7,872.2 1,732.2
Dec. 2012 5,728.8 959.1 6,687.9 455.8 176.8 632.6 639.1 7,959.6 1,743.0
Jan. 2013 5,727.5 975.8 6,703.3 448.3 175.7 624.0 650.8 7,978.1 1,765.6
Feb. 2013 5,740.3 986.9 6,727.2 442.3 173.3 615.5 638.4 7,981.2 1,765.1
Mar. 2013 5,796.6 996.2 6,792.8 443.3 169.2 612.5 638.2 8,043.5 1,756.4
Apr. 2013 5,794.3 999.0 6,793.3 439.7 165.7 605.5 637.1 8,035.9 1,758.4
May 2013 5,825.8 1,011.3 6,837.1 433.8 162.3 596.1 631.8 8,065.0 1,753.5
June 2013 5,869.8 1,014.1 6,883.8 424.3 158.9 583.1 642.8 8,109.8 1,757.3
July 2013 5,905.2 1,015.7 6,920.9 419.3 154.3 573.5 649.4 8,143.9 1,765.0
Aug. 2013 5,962.4 1,020.1 6,982.5 417.3 150.4 567.6 645.8 8,195.9 1,764.3
Sept. 2013 5,986.8 1,020.0 7,006.8 412.2 148.6 560.8 647.5 8,215.2 1,787.5
Oct. 2013 6,048.1 1,023.8 7,071.9 408.4 146.3 554.7 647.7 8,274.3 1,785.4
Nov. 2013 6,088.3 1,023.6 7,111.9 403.9 143.7 547.6 637.1 8,296.7 1,789.5
Dec. 2013 6,108.3 1,024.8 7,133.1 403.2 141.7 544.9 632.4 8,310.4 1,779.8
                   
Week ending
Nov. 18, 2013 6,084.4 1,013.7 7,098.1 403.8 143.6 547.4 638.2 8,283.7 1,789.9
Nov. 25, 2013 6,097.6 1,032.9 7,130.5 404.0 143.2 547.2 633.9 8,311.6 1,773.6
Dec. 2, 2013 6,090.8 1,036.9 7,127.7 403.5 142.8 546.3 633.1 8,307.1 1,787.3
Dec. 9, 2013 6,099.3 1,012.4 7,111.8 403.4 142.6 546.0 631.6 8,289.4 1,792.1
Dec. 16, 2013 6,102.5 1,013.1 7,115.6 404.9 142.0 546.9 632.6 8,295.0 1,782.3
Dec. 23, 2013 6,103.8 1,027.6 7,131.4 403.8 141.4 545.2 632.7 8,309.3 1,767.1
Dec. 30, 2013 6,127.9 1,043.8 7,171.6 401.2 140.8 542.0 632.5 8,346.2 1,772.7
Jan. 6, 2014 6,130.6 1,024.0 7,154.6 396.5 140.4 537.0 633.0 8,324.6 1,799.6
Jan. 13, 2014 6,145.9 1,016.6 7,162.4 394.6 140.1 534.8 630.3 8,327.5 1,765.1

Footnotes

Components may not add to totals due to rounding.

  1. Savings deposits include money market deposit accounts.
  2. Small-denomination time deposits are those issued in amounts of less than $100,000. All IRA and Keogh account balances at commercial banks and thrift institutions are subtracted from small time deposits.
  3. IRA and Keogh account balances at money market mutual funds are subtracted from retail money funds.
  4. Institutional money funds are not part of non-M1 M2.

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Table 5
Not Seasonally Adjusted Components of M1. Billions of dollars.
Date Currency 1 Traveler's checks 2 Demand deposits 3 Other checkable deposits
At commercial banks 4 At thrift institutions 5 Total
Month
Aug. 2012 1,056.4 3.9 839.4 240.3 188.2 428.5
Sept. 2012 1,064.1 3.9 859.5 235.0 189.2 424.2
Oct. 2012 1,073.4 3.9 901.6 240.9 190.2 431.1
Nov. 2012 1,081.8 3.8 896.4 236.9 191.2 428.1
Dec. 2012 1,092.3 3.8 959.4 252.4 197.2 449.7
Jan. 2013 1,090.1 3.8 926.0 261.3 196.5 457.8
Feb. 2013 1,100.6 3.8 899.8 248.4 199.3 447.7
Mar. 2013 1,110.3 3.8 918.8 253.1 207.1 460.3
Apr. 2013 1,114.7 3.7 947.9 262.9 209.4 472.3
May 2013 1,121.2 3.7 932.3 253.0 204.7 457.7
June 2013 1,125.0 3.6 936.7 248.7 205.6 454.3
July 2013 1,130.3 3.6 950.1 248.9 208.4 457.3
Aug. 2013 1,134.8 3.6 945.8 246.1 207.6 453.7
Sept. 2013 1,140.4 3.6 956.4 248.5 208.5 457.0
Oct. 2013 1,147.7 3.6 1,013.7 249.6 208.8 458.4
Nov. 2013 1,153.0 3.5 998.4 247.5 209.1 456.6
Dec. 2013 1,162.3 3.5 1,076.3 262.6 213.0 475.6
             
Week ending
Nov. 18, 2013 1,151.0 3.5 963.7 241.1 205.9 447.0
Nov. 25, 2013 1,152.4 3.5 1,043.9 252.2 208.1 460.2
Dec. 2, 2013 1,157.0 3.5 1,109.2 260.7 217.5 478.1
Dec. 9, 2013 1,157.1 3.5 962.3 251.7 210.4 462.1
Dec. 16, 2013 1,158.9 3.5 998.9 251.0 209.7 460.8
Dec. 23, 2013 1,166.3 3.5 1,116.6 267.7 213.0 480.7
Dec. 30, 2013 1,167.9 3.5 1,210.1 278.7 216.4 495.1
Jan. 6, 2014 1,163.7 3.5 1,059.7 271.0 216.2 487.2
Jan. 13, 2014 1,158.4 3.5 e 963.0 256.7 209.4 466.1

Footnotes

Components may not add to totals due to rounding.

e estimated

  1. Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions.
  2. Outstanding amount of U.S. dollar-denominated traveler's checks of nonbank issuers. Traveler's checks issued by depository institutions are included in demand deposits.
  3. Demand deposits at domestically chartered commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations (excluding those amounts held by depository institutions, the U.S. government, and foreign banks and official institutions) less cash items in the process of collection and Federal Reserve float.
  4. NOW and ATS balances at domestically chartered commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
  5. NOW and ATS balances at thrift institutions, credit union share draft balances, and demand deposits at thrift institutions.

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Table 6
Not Seasonally Adjusted Components of Non-M1 M2. Billions of dollars.
Date Savings deposits 1 Small-denomination time deposits 2 Retail
money funds 3
Total
non-M1 M2
Memorandum:
Institutional
money funds 4
At commercial
banks
At thrift
institutions
Total At commercial
banks
At thrift
institutions
Total
Month
Aug. 2012 5,379.0 1,021.8 6,400.8 484.9 193.1 678.0 622.7 7,701.5 1,724.1
Sept. 2012 5,455.3 1,028.1 6,483.3 478.3 189.4 667.6 622.8 7,773.8 1,729.6
Oct. 2012 5,488.4 1,031.1 6,519.5 469.6 185.9 655.6 620.5 7,795.6 1,722.4
Nov. 2012 5,671.6 953.5 6,625.1 463.5 179.2 642.8 625.0 7,892.9 1,732.6
Dec. 2012 5,748.4 962.3 6,710.7 454.1 176.2 630.3 644.6 7,985.6 1,773.1
Jan. 2013 5,725.3 975.4 6,700.7 447.6 175.5 623.1 663.4 7,987.2 1,813.4
Feb. 2013 5,738.0 986.5 6,724.6 442.6 173.4 616.0 645.9 7,986.5 1,806.1
Mar. 2013 5,829.7 1,001.9 6,831.6 444.5 169.6 614.2 645.6 8,091.3 1,771.7
Apr. 2013 5,827.0 1,004.6 6,831.5 441.1 166.3 607.4 635.7 8,074.6 1,748.2
May 2013 5,796.3 1,006.2 6,802.5 434.9 162.7 597.6 621.6 8,021.7 1,736.0
June 2013 5,851.4 1,010.9 6,862.3 424.9 159.1 584.0 635.8 8,082.1 1,733.3
July 2013 5,873.4 1,010.2 6,883.6 419.4 154.3 573.8 644.2 8,101.5 1,734.7
Aug. 2013 5,936.4 1,015.7 6,952.0 417.3 150.4 567.6 643.0 8,162.7 1,743.1
Sept. 2013 5,985.5 1,019.8 7,005.2 412.0 148.5 560.5 647.3 8,213.1 1,771.0
Oct. 2013 6,048.1 1,023.8 7,071.9 407.8 146.1 553.9 645.5 8,271.3 1,768.9
Nov. 2013 6,115.3 1,028.1 7,143.4 402.3 143.2 545.5 633.6 8,322.4 1,790.9
Dec. 2013 6,126.1 1,027.8 7,153.9 401.5 141.1 542.7 638.2 8,334.8 1,811.3
                   
Week ending
Nov. 18, 2013 6,168.8 1,027.8 7,196.7 402.3 143.0 545.3 632.7 8,374.7 1,790.9
Nov. 25, 2013 6,036.7 1,022.6 7,059.2 402.2 142.6 544.8 633.0 8,237.1 1,784.8
Dec. 2, 2013 6,033.1 1,027.1 7,060.2 401.5 142.1 543.6 632.5 8,236.3 1,800.3
Dec. 9, 2013 6,224.2 1,033.2 7,257.4 401.6 141.9 543.5 634.6 8,435.5 1,822.3
Dec. 16, 2013 6,212.1 1,031.3 7,243.4 403.1 141.4 544.5 636.6 8,424.5 1,827.6
Dec. 23, 2013 6,089.6 1,025.2 7,114.8 402.1 140.8 542.9 640.3 8,298.0 1,789.2
Dec. 30, 2013 5,995.3 1,021.2 7,016.5 399.8 140.3 540.1 641.9 8,198.6 1,807.0
Jan. 6, 2014 6,191.5 1,034.2 7,225.6 395.9 140.2 536.1 644.2 8,406.0 1,828.5
Jan. 13, 2014 6,262.2 1,035.8 7,298.0 393.9 139.9 533.8 646.4 8,478.2 1,822.3

Footnotes

Components may not add to totals due to rounding.

  1. Savings deposits include money market deposit accounts.
  2. Small-denomination time deposits are those issued in amounts of less than $100,000. All IRA and Keogh account balances at commercial banks and thrift institutions are subtracted from small time deposits.
  3. IRA and Keogh account balances at money market mutual funds are subtracted from retail money funds.
  4. Institutional money funds are not part of non-M1 M2.

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Table 7
Other Memorandum Items. Billions of dollars, not seasonally adjusted.
Date Demand deposits at banks due to Time and
savings deposits
due to foreign
banks and
official
institutions
IRA and Keogh accounts
Foreign
commercial
banks
Foreign official
institutions
At commercial
banks
At thrift
institutions
At money
market funds
Total
Aug. 2012 30.5 13.7 27.7 273.5 137.9 220.4 631.9
Sept. 2012 30.8 15.2 27.7 274.9 138.9 221.7 635.5
Oct. 2012 31.9 14.7 27.9 276.8 139.9 223.7 640.4
Nov. 2012 33.5 13.9 28.2 279.1 140.8 226.1 645.9
Dec. 2012 35.1 12.3 28.4 281.3 141.7 228.4 651.5
Jan. 2013 36.8 12.5 28.9 281.4 142.3 228.3 651.9
Feb. 2013 38.4 13.8 29.4 280.1 142.5 226.6 649.2
Mar. 2013 40.1 14.0 29.9 278.8 142.7 224.9 646.5
Apr. 2013 42.1 15.1 31.2 280.0 143.1 226.8 649.9
May 2013 44.3 15.9 33.1 283.0 143.7 231.4 658.0
June 2013 46.5 15.2 35.0 286.0 144.2 235.9 666.0
July 2013 50.2 15.1 36.6 287.3 144.6 239.0 670.9
Aug. 2013 55.0 15.2 37.9 287.6 144.9 241.1 673.5
Sept. 2013 59.8 13.6 39.3 287.8 145.2 243.1 676.1
Oct. 2013 61.6 e 13.2 e 39.8 e 289.0 e 145.7 e 244.3 e 679.0 e
Nov. 2013 61.6 e 13.2 e 39.8 e 290.8 e 146.3 e 244.9 e 682.1 e
Dec. 2013 61.6 e 12.6 e 39.8 e 292.6 e 147.0 e 245.6 e 685.2 e

Footnotes

Components may not add to totals due to rounding.

e estimated

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Table 7 (continued)
Other Memorandum Items (continued). Billions of dollars, not seasonally adjusted.
Date U.S. government deposits
Demand deposits at
commercial banks
banks
Balance at Federal Reserve Note balances at
depository
institutions 1
Total cash balance Time and savings
deposits at
commercial banks
Month
Aug. 2012 0.8 29.3 0.0 30.1 2.1
Sept. 2012 0.9 58.6 0.0 59.5 2.1
Oct. 2012 0.9 63.0 0.0 63.9 2.1
Nov. 2012 0.8 30.3 0.0 31.1 2.1
Dec. 2012 0.9 49.4 0.0 50.4 2.0
Jan. 2013 1.1 67.6 0.0 68.7 1.9
Feb. 2013 0.9 40.4 0.0 41.3 1.8
Mar. 2013 1.0 56.7 0.0 57.7 1.7
Apr. 2013 1.5 101.1 0.0 102.7 1.6
May 2013 1.0 71.1 0.0 72.1 1.7
June 2013 1.0 72.1 0.0 73.1 1.8
July 2013 1.1 74.3 0.0 75.4 1.8
Aug. 2013 1.1 51.4 0.0 52.5 1.9
Sept. 2013 1.1 40.3 0.0 41.3 1.9
Oct. 2013 1.2 37.8 0.0 39.0 1.9 e
Nov. 2013 1.1 43.7 0.0 44.8 1.9 e
Dec. 2013 1.2 68.3 0.0 69.5 1.9 e
           
Week ending
Nov. 18, 2013 1.2 47.7 0.0 48.9  
Nov. 25, 2013 1.3 53.4 0.0 54.7  
Dec. 2, 2013 1.1 43.4 0.0 44.5  
Dec. 9, 2013 1.1 30.3 0.0 31.4  
Dec. 16, 2013 1.1 43.5 0.0 44.7  
Dec. 23, 2013 1.1 106.7 0.0 107.8  
Dec. 30, 2013 1.5 85.5 0.0 87.0  
Jan. 6, 2014 1.0 132.5 0.0 133.5  
Jan. 13, 2014 1.1 88.5 0.0 89.6  

Footnotes

e estimated

Note: Current and historical H.6 data are available each week on the Federal Reserve Board's website (http://www.federalreserve.gov/). Monthly data are available back to January 1959, and weekly data are available back to January 1975 for most series.

  1. Source: Daily Treasury statement.

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Appendix Table 1
Monthly Seasonal Factors Used to Construct M1
Date Currency Nonbank travelers checks Demand deposits Other checkable deposits 1
Total At banks
Jan. 2013 0.9940 1.0037 1.0143 1.0151 1.0323
Feb. 2013 1.0007 1.0049 0.9797 0.9917 0.9917
Mar. 2013 1.0052 1.0007 1.0029 1.0186 1.0185
Apr. 2013 1.0037 0.9979 1.0006 1.0352 1.0423
May 2013 1.0034 0.9960 0.9835 1.0022 1.0022
June 2013 1.0011 0.9957 0.9901 0.9972 0.9957
July 2013 0.9991 0.9984 0.9882 0.9899 0.9825
Aug. 2013 0.9974 0.9990 0.9861 0.9866 0.9802
Sep. 2013 0.9963 1.0023 0.9830 0.9811 0.9715
Oct. 2013 0.9976 1.0021 1.0071 0.9854 0.9796
Nov. 2013 0.9997 0.9994 1.0081 0.9820 0.9782
Dec. 2013 1.0021 1.0004 1.0593 1.0138 1.0241
Jan. 2014 0.9946 1.0036 1.0136 1.0153 1.0335
Feb. 2014 1.0005 1.0050 0.9787 0.9921 0.9922
Mar. 2014 1.0043 1.0007 1.0024 1.0194 1.0176
Apr. 2014 1.0038 0.9980 1.0000 1.0356 1.0424
May 2014 1.0033 0.9957 0.9823 1.0013 1.0031
June 2014 1.0004 0.9957 0.9908 0.9981 0.9942
July 2014 0.9992 0.9982 0.9881 0.9907 0.9838
Aug. 2014 0.9979 0.9987 0.9848 0.9849 0.9793
Sep. 2014 0.9965 1.0015 0.9849 0.9827 0.9725
Oct. 2014 0.9981 1.0025 1.0074 0.9845 0.9806
Nov. 2014 0.9993 0.9997 1.0068 0.9802 0.9764
Dec. 2014 1.0023 1.0007 1.0616 1.0140 1.0235
Jan. 2015 0.9949 1.0039 1.0118 1.0151 1.0343
Feb. 2015 1.0004 1.0050 0.9780 0.9922 0.9926
Mar. 2015 1.0039 1.0012 1.0042 1.0211 1.0168

Footnotes

  1. Seasonally adjusted other checkable deposits at thrifts are derived as the difference between total other checkable deposits, seasonally adjusted, and seasonally adjusted other checkable deposits at commercial banks.

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Appendix Table 2
Monthly Seasonal Factors Used to Construct M2
Date Savings and MMDA deposits 1 Small denom. time deposits 1 Retail money funds Institutional money funds
Jan. 2013 0.9996 0.9986 1.0194 1.0271
Feb. 2013 0.9996 1.0008 1.0117 1.0232
Mar. 2013 1.0057 1.0027 1.0115 1.0087
Apr. 2013 1.0056 1.0031 0.9977 0.9942
May 2013 0.9949 1.0025 0.9838 0.9900
June 2013 0.9969 1.0015 0.9890 0.9863
July 2013 0.9946 1.0004 0.9919 0.9829
Aug. 2013 0.9956 1.0000 0.9958 0.9880
Sep. 2013 0.9998 0.9994 0.9997 0.9908
Oct. 2013 1.0000 0.9986 0.9967 0.9908
Nov. 2013 1.0044 0.9961 0.9944 1.0008
Dec. 2013 1.0029 0.9958 1.0091 1.0177
Jan. 2014 1.0001 0.9984 1.0200 1.0273
Feb. 2014 0.9993 1.0004 1.0111 1.0230
Mar. 2014 1.0057 1.0030 1.0111 1.0091
Apr. 2014 1.0060 1.0035 0.9978 0.9943
May 2014 0.9948 1.0032 0.9831 0.9894
June 2014 0.9962 1.0018 0.9882 0.9858
July 2014 0.9947 1.0002 0.9922 0.9825
Aug. 2014 0.9963 0.9999 0.9964 0.9874
Sep. 2014 0.9992 0.9993 0.9999 0.9910
Oct. 2014 1.0000 0.9984 0.9969 0.9910
Nov. 2014 1.0046 0.9959 0.9944 1.0014
Dec. 2014 1.0030 0.9959 1.0089 1.0178
Jan. 2015 1.0004 0.9984 1.0202 1.0279
Feb. 2015 0.9991 1.0003 1.0111 1.0233
Mar. 2015 1.0054 1.0032 1.0110 1.0095

Footnotes

  1. Seasonal factors are applied to deposits data at both commercial banks and thrift institutions.

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Appendix Table 3
Weekly Seasonal Factors Used to Construct M1
Date Currency Nonbank travelers checks Demand deposits Other checkable deposits 1
Total At banks
Dec. 2, 2013 0.9999 0.9990 1.1043 1.0227 1.0269
Dec. 9, 2013 0.9991 0.9996 0.9461 0.9746 0.9604
Dec. 16, 2013 0.9995 1.0001 0.9799 0.9779 0.9723
Dec. 23, 2013 1.0052 1.0007 1.0793 1.0224 1.0409
Dec. 30, 2013 1.0055 1.0013 1.2107 1.0727 1.1202
Jan. 6, 2014 1.0005 1.0019 1.0567 1.0413 1.0534
Jan. 13, 2014 0.9940 1.0028 0.9490 0.9778 0.9821
Jan. 20, 2014 0.9930 1.0038 0.9974 1.0087 1.0161
Jan. 27, 2014 0.9921 1.0047 1.0584 1.0312 1.0726
Feb. 3, 2014 0.9957 1.0056 1.0325 1.0242 1.0478
Feb. 10, 2014 0.9997 1.0053 0.9317 0.9642 0.9561
Feb. 17, 2014 1.0023 1.0050 0.9725 0.9736 0.9655
Feb. 24, 2014 1.0004 1.0047 1.0085 1.0057 1.0154
Mar. 3, 2014 1.0027 1.0044 0.9801 1.0254 1.0205
Mar. 10, 2014 1.0049 1.0028 0.8870 0.9899 0.9631
Mar. 17, 2014 1.0043 1.0011 0.9550 0.9972 0.9895
Mar. 24, 2014 1.0036 0.9995 1.0491 1.0357 1.0441
Mar. 31, 2014 1.0043 0.9978 1.1397 1.0583 1.0838
Apr. 7, 2014 1.0068 0.9979 0.9381 1.0195 1.0076
Apr. 14, 2014 1.0046 0.9980 0.9391 1.0018 0.9911
Apr. 21, 2014 1.0030 0.9980 1.0125 1.0470 1.0567
Apr. 28, 2014 1.0019 0.9981 1.0824 1.0640 1.0969
May 5, 2014 1.0049 0.9982 0.9676 1.0173 1.0284
May 12, 2014 1.0044 0.9969 0.9146 0.9750 0.9548
May 19, 2014 1.0025 0.9957 0.9717 0.9880 0.9856
May 26, 2014 1.0028 0.9944 1.0484 1.0142 1.0324
June 2, 2014 1.0011 0.9931 1.0492 1.0355 1.0453
June 9, 2014 1.0024 0.9942 0.9153 0.9744 0.9547
June 16, 2014 1.0002 0.9953 0.9452 0.9761 0.9596
June 23, 2014 0.9991 0.9964 1.0097 1.0026 1.0152
June 30, 2014 0.9990 0.9975 1.0874 1.0343 1.0422
July 7, 2014 1.0038 0.9977 0.9648 0.9906 0.9751
July 14, 2014 0.9997 0.9980 0.9225 0.9597 0.9388
July 21, 2014 0.9980 0.9983 0.9662 0.9833 0.9727
July 28, 2014 0.9969 0.9985 1.0523 1.0098 1.0218
Aug. 4, 2014 0.9992 0.9988 1.0052 1.0021 0.9962
Aug. 11, 2014 0.9989 0.9987 0.9006 0.9627 0.9344
Aug. 18, 2014 0.9971 0.9987 0.9605 0.9693 0.9591
Aug. 25, 2014 0.9956 0.9987 1.0245 0.9933 0.9983
Sep. 1, 2014 0.9978 0.9986 1.0812 1.0188 1.0367
Sep. 8, 2014 0.9987 0.9998 0.9159 0.9699 0.9556
Sep. 15, 2014 0.9961 1.0009 0.9085 0.9567 0.9312
Sep. 22, 2014 0.9953 1.0021 0.9881 0.9828 0.9725
Sep. 29, 2014 0.9954 1.0033 1.1069 1.0144 1.0210
Oct. 6, 2014 0.9996 1.0045 0.9832 0.9787 0.9743
Oct. 13, 2014 0.9993 1.0034 0.9373 0.9577 0.9329
Oct. 20, 2014 0.9974 1.0024 0.9831 0.9800 0.9706
Oct. 27, 2014 0.9967 1.0014 1.0836 1.0030 1.0174
Nov. 3, 2014 0.9983 1.0003 1.0847 1.0166 1.0216
Nov. 10, 2014 0.9996 1.0000 0.9338 0.9558 0.9409
Nov. 17, 2014 0.9984 0.9997 0.9544 0.9519 0.9380
Nov. 24, 2014 0.9989 0.9995 1.0285 0.9858 0.9911
Dec. 1, 2014 1.0006 0.9992 1.0890 1.0180 1.0265
Dec. 8, 2014 0.9994 0.9997 0.9535 0.9746 0.9634
Dec. 15, 2014 0.9999 1.0003 0.9801 0.9744 0.9619
Dec. 22, 2014 1.0049 1.0009 1.0888 1.0204 1.0269
Dec. 29, 2014 1.0067 1.0015 1.1789 1.0651 1.1138
Jan. 5, 2015 1.0013 1.0021 1.1007 1.0486 1.0708
Jan. 12, 2015 0.9947 1.0030 0.9581 0.9835 0.9863
Jan. 19, 2015 0.9931 1.0039 0.9679 1.0071 1.0126
Jan. 26, 2015 0.9917 1.0048 1.0358 1.0321 1.0694
Feb. 2, 2015 0.9949 1.0057 1.0678 1.0269 1.0637
Feb. 9, 2015 0.9994 1.0054 0.9315 0.9631 0.9656
Feb. 16, 2015 1.0021 1.0051 0.9538 0.9721 0.9602
Feb. 23, 2015 1.0003 1.0048 0.9982 1.0028 1.0077
Mar. 2, 2015 1.0020 1.0045 1.0135 1.0321 1.0265
Mar. 9, 2015 1.0046 1.0031 0.9123 0.9905 0.9657
Mar. 16, 2015 1.0040 1.0018 0.9623 0.9925 0.9806
Mar. 23, 2015 1.0033 1.0005 1.0261 1.0284 1.0341
Mar. 30, 2015 1.0039 0.9991 1.1119 1.0643 1.0840
Apr. 6, 2015 1.0068 0.9978 0.9595 1.0448 1.0211

Footnotes

  1. Seasonally adjusted other checkable deposits at thrifts are derived as the difference between total other checkable deposits, seasonally adjusted, and seasonally adjusted other checkable deposits at commercial banks.

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Appendix Table 4
Weekly Seasonal Factors Used to Construct M2
Date Savings and MMDA deposits 1 Small denom. time deposits 1 Retail money funds Institutional money funds
Dec. 2, 2013 0.9905 0.9950 0.9990 1.0073
Dec. 9, 2013 1.0205 0.9953 1.0046 1.0168
Dec. 16, 2013 1.0180 0.9956 1.0064 1.0254
Dec. 23, 2013 0.9977 0.9958 1.0121 1.0125
Dec. 30, 2013 0.9784 0.9966 1.0149 1.0194
Jan. 6, 2014 1.0099 0.9984 1.0177 1.0161
Jan. 13, 2014 1.0189 0.9982 1.0254 1.0324
Jan. 20, 2014 1.0018 0.9982 1.0225 1.0303
Jan. 27, 2014 0.9789 0.9983 1.0194 1.0317
Feb. 3, 2014 0.9887 0.9989 1.0108 1.0224
Feb. 10, 2014 1.0079 1.0000 1.0131 1.0238
Feb. 17, 2014 1.0026 1.0006 1.0086 1.0243
Feb. 24, 2014 0.9894 1.0009 1.0122 1.0240
Mar. 3, 2014 1.0038 1.0013 1.0103 1.0182
Mar. 10, 2014 1.0239 1.0023 1.0128 1.0149
Mar. 17, 2014 1.0160 1.0032 1.0110 1.0115
Mar. 24, 2014 0.9910 1.0036 1.0135 1.0033
Mar. 31, 2014 0.9881 1.0036 1.0074 1.0028
Apr. 7, 2014 1.0248 1.0036 1.0059 0.9954
Apr. 14, 2014 1.0265 1.0037 1.0030 1.0058
Apr. 21, 2014 1.0084 1.0035 0.9990 0.9881
Apr. 28, 2014 0.9740 1.0032 0.9889 0.9910
May 5, 2014 0.9991 1.0032 0.9785 0.9827
May 12, 2014 1.0089 1.0033 0.9819 0.9902
May 19, 2014 0.9981 1.0033 0.9833 0.9905
May 26, 2014 0.9764 1.0032 0.9864 0.9928
June 2, 2014 0.9864 1.0032 0.9844 0.9886
June 9, 2014 1.0144 1.0028 0.9880 0.9928
June 16, 2014 1.0119 1.0020 0.9882 0.9903
June 23, 2014 0.9821 1.0012 0.9903 0.9784
June 30, 2014 0.9756 1.0006 0.9873 0.9806
July 7, 2014 1.0088 1.0006 0.9906 0.9761
July 14, 2014 1.0102 1.0004 0.9928 0.9886
July 21, 2014 0.9951 1.0001 0.9941 0.9831
July 28, 2014 0.9729 0.9998 0.9923 0.9849
Aug. 4, 2014 0.9984 1.0001 0.9897 0.9763
Aug. 11, 2014 1.0135 1.0000 0.9961 0.9828
Aug. 18, 2014 1.0016 0.9999 0.9955 0.9876
Aug. 25, 2014 0.9812 0.9997 0.9998 0.9945
Sep. 1, 2014 0.9792 0.9998 0.9984 0.9915
Sep. 8, 2014 1.0128 0.9993 0.9995 0.9907
Sep. 15, 2014 1.0168 0.9989 1.0023 0.9984
Sep. 22, 2014 0.9934 0.9991 1.0007 0.9865
Sep. 29, 2014 0.9764 0.9997 0.9977 0.9892
Oct. 6, 2014 1.0037 1.0001 0.9972 0.9850
Oct. 13, 2014 1.0174 0.9995 0.9990 0.9946
Oct. 20, 2014 1.0057 0.9982 0.9995 0.9871
Oct. 27, 2014 0.9792 0.9973 0.9955 0.9964
Nov. 3, 2014 0.9931 0.9965 0.9907 0.9910
Nov. 10, 2014 1.0181 0.9964 0.9926 0.9963
Nov. 17, 2014 1.0168 0.9960 0.9911 1.0006
Nov. 24, 2014 0.9946 0.9957 0.9977 1.0063
Dec. 1, 2014 0.9903 0.9951 0.9984 1.0075
Dec. 8, 2014 1.0198 0.9955 1.0037 1.0169
Dec. 15, 2014 1.0185 0.9957 1.0057 1.0253
Dec. 22, 2014 0.9983 0.9957 1.0114 1.0116
Dec. 29, 2014 0.9816 0.9965 1.0140 1.0191
Jan. 5, 2015 1.0033 0.9972 1.0166 1.0165
Jan. 12, 2015 1.0175 0.9981 1.0256 1.0327
Jan. 19, 2015 1.0083 0.9986 1.0228 1.0310
Jan. 26, 2015 0.9822 0.9987 1.0202 1.0315
Feb. 2, 2015 0.9825 0.9991 1.0123 1.0233
Feb. 9, 2015 1.0074 0.9998 1.0134 1.0234
Feb. 16, 2015 1.0060 1.0003 1.0090 1.0252
Feb. 23, 2015 0.9910 1.0006 1.0115 1.0241
Mar. 2, 2015 0.9960 1.0010 1.0100 1.0192
Mar. 9, 2015 1.0217 1.0022 1.0126 1.0154
Mar. 16, 2015 1.0175 1.0033 1.0110 1.0133
Mar. 23, 2015 0.9970 1.0038 1.0128 1.0045
Mar. 30, 2015 0.9858 1.0039 1.0086 1.0042
Apr. 6, 2015 1.0223 1.0037 1.0059 0.9949

Footnotes

  1. Seasonal factors are applied to deposits data at both commercial banks and thrift institutions.

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Appendix Table 5
Comparison of Revised and Old Monetary Aggregate Levels. Billions of dollars, seasonally adjusted.
Date Revised M1 Old M1 Revised M2 Old M2
Oct. 2012 2,415.4 2,422.7 10,214.1 10,254.9
Nov. 2012 2,407.7 2,408.1 10,279.9 10,306.9
Dec. 2012 2,447.2 2,447.2 10,406.8 10,417.1
Jan. 2013 2,464.5 2,467.8 10,442.6 10,459.6
Feb. 2013 2,473.5 2,480.3 10,454.7 10,439.4
Mar. 2013 2,476.4 2,466.8 10,519.8 10,483.8
Apr. 2013 2,517.8 2,525.2 10,553.7 10,541.2
May 2013 2,525.8 2,536.2 10,590.8 10,562.2
June 2013 2,529.1 2,523.9 10,638.9 10,601.4
July 2013 2,558.3 2,550.6 10,702.2 10,707.0
Aug. 2013 2,560.3 2,554.3 10,756.2 10,765.9
Sep. 2013 2,587.0 2,576.4 10,802.2 10,815.8
Oct. 2013 2,625.8 2,634.8 10,900.1 10,947.9
Nov. 2013 2,612.2 2,610.9 10,908.9 10,928.5
Dec. 2013 2,648.5 2,649.7 10,958.9 10,980.6

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Appendix Table 6
Comparison of Revised and Old M1 Growth Rates. Percent changes, annual rate.
Date Revised Old Difference Difference due to
Benchmark Seasonals
2012
January 22.1 22.8 -0.7 0.0 -0.7
February 6.8 8.1 -1.3 0.0 -1.3
March 8.9 3.6 5.3 0.0 5.3
April 11.8 15.8 -4.0 0.0 -4.0
May 2.0 5.4 -3.4 0.0 -3.4
June 8.2 2.5 5.7 0.0 5.7
July 27.8 24.6 3.2 0.0 3.2
August 12.7 14.1 -1.4 0.0 -1.4
September 18.8 17.5 1.3 0.0 1.3
October 16.1 23.7 -7.6 0.0 -7.6
November -3.8 -7.2 3.4 0.0 3.4
December 19.7 19.5 0.2 0.0 0.2
2013
January 8.5 10.1 -1.6 0.0 -1.6
February 4.4 6.1 -1.7 0.0 -1.7
March 1.4 -6.5 7.9 0.0 7.9
April 20.1 28.4 -8.3 0.0 -8.3
May 3.8 5.2 -1.4 0.0 -1.4
June 1.6 -5.8 7.4 0.0 7.4
July 13.9 12.7 1.2 0.2 1.0
August 0.9 1.7 -0.8 0.2 -1.0
September 12.5 10.3 2.2 0.1 2.1
October 18.0 27.2 -9.2 0.1 -9.3
November -6.2 -10.9 4.7 0.0 4.7
December 16.7 17.8 -1.1 0.0 -1.1
Quarterly
12Q4 12.4 14.0 -1.6 0.0 -1.6
13Q1 7.9 7.5 0.4 0.0 0.4
13Q2 8.5 9.2 -0.7 0.0 -0.7
13Q3 7.0 5.1 1.9 0.1 1.8
13Q4 9.4 11.2 -1.8 0.1 -1.9
Semi-Annual
12Q4-13Q2 8.3 8.4 -0.1 0.0 -0.1
13Q2-13Q4 8.3 8.2 0.1 0.1 0.0
Annual (Q4 to Q4)
2012 12.5 12.6 -0.1 0.0 -0.1
2013 8.5 8.5 0.0 0.1 -0.1

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Appendix Table 7
Comparison of Revised and Old M2 Growth Rates. Percent changes, annual rate.
Date Revised Old Difference Difference due to
Benchmark Seasonals
2012
January 10.9 9.2 1.7 0.0 1.7
February 6.5 4.4 2.1 0.0 2.1
March 5.2 4.5 0.7 0.0 0.7
April 6.7 5.5 1.2 0.0 1.2
May 3.6 5.1 -1.5 0.0 -1.5
June 7.6 6.2 1.4 0.0 1.4
July 8.9 12.0 -3.1 0.0 -3.1
August 7.7 8.7 -1.0 0.0 -1.0
September 8.5 9.0 -0.5 0.0 -0.5
October 6.7 10.1 -3.4 0.0 -3.4
November 7.7 6.1 1.6 0.0 1.6
December 14.8 12.8 2.0 0.0 2.0
2013
January 4.1 4.9 -0.8 0.0 -0.8
February 1.4 -2.3 3.7 0.0 3.7
March 7.5 5.1 2.4 0.0 2.4
April 3.9 6.6 -2.7 0.0 -2.7
May 4.2 2.4 1.8 0.0 1.8
June 5.5 4.5 1.0 0.0 1.0
July 7.1 11.9 -4.8 0.0 -4.8
August 6.1 6.6 -0.5 0.2 -0.7
September 5.1 5.5 -0.4 0.2 -0.6
October 10.9 14.7 -3.8 -0.1 -3.7
November 1.0 -2.0 3.0 -0.1 3.1
December 5.5 5.7 -0.2 -0.1 -0.1
Quarterly
12Q4 8.4 9.2 -0.8 0.0 -0.8
13Q1 6.7 5.2 1.5 0.0 1.5
13Q2 4.7 4.1 0.6 0.0 0.6
13Q3 6.0 7.3 -1.3 0.0 -1.3
13Q4 6.3 7.0 -0.7 0.0 -0.7
Semi-Annual
12Q4-13Q2 5.7 4.7 1.0 0.0 1.0
13Q2-13Q4 6.2 7.3 -1.1 0.0 -1.1
Annual (Q4 to Q4)
2012 7.5 7.6 -0.1 0.0 -0.1
2013 6.0 6.0 0.0 0.0 0.0
Last update: January 23, 2014