Friday, 23 August 2013

The Short Version of the "Austrian" True Money Supply (TMS), as of 12 August 2013

The year on year (YoY) percentage change in the short version of the Austrian TMS fell to the lowest level for almost five years according to numbers released today by the Fed.

At 8.78% as of 12 August, it was the lowest YoY growth rate reported since week ending 15 December 2008. Compared to last week it contracted by an annualised rate of 2.5% while it was up 19.3% on three weeks ago on the same basis.


The 5 year annualised growth rate of 11.91% remains close to the record highs during the last 26 years or so.