Friday, 18 October 2013

The Short Version of the "Austrian" True Money Supply (TMS), as of 7 October 2013

The short version of the Austrian True Money Supply for the U.S. increased by 0.78% (49.42% annualised) during the most recent week ending 7 October to reach USD 9.6582 trillion calculated based on monetary statistics just released by FRED

The 1-year growth rate increased, following the decline to 8.08% last week, to 8.37% this week. It still however remains among the lowest its been since December 2008 and is 1.03 and 2.12 percentage points lower than 26 weeks and one year ago, respectively. As is apparent in the chart below, the year on year (YoY) growth rate has declined this year. More precisely, the average YoY growth rate so far this year of 9.36% is 3.10 percentage points (24.87%) lower than the 12.46% average in 2012.

The 39-week growth rate (annualised) jumped from 4.28% last week to 5.37% this week, the highest growth rate for four weeks. Although it increased this week, the 39-week growth rate is 6.10 percentage points lower than it was 26 weeks ago and 3.75 percentage points lower than a year ago. 

In general, the overall growth rate in the money supply is slowing down as almost all the various growth rates depicted in the table below remain lower than they were both 26 weeks and one year ago.