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Friday, 24 January 2014

The Short Version of the "Austrian" True Money Supply (TMS), as of 13 January 2014

The short version of the Austrian True Money Supply (SVTMS) for the U.S. decreased by 0.51% (23.36% annualised) during the most recent week ending 13 January to reach US$ 9.8855 trillion calculated from the most recent monetary statistics published by the Federal Reserve. Click here to access weekly reports since August 2013 and here to view the recap of 2013. 

The one year growth rate in the money supply increased from 6.99% last week to 7.20%, the highest reported for five weeks. 

Compared to the same week last year, the growth rate fell by 3.42 percentage points. The growth rate is hence continuing to drop compared to the same period last year. In fact, the percentage point change in the growth rate compared to the same period the year before has now been on a downward path for 81 consecutive weeks.

The 5-year annualised growth rate in the money supply declined slightly to 11.39% this week from 11.50% last week. Compared to the same week last year, the growth rate declined by 70 basis points and has now declined for seven consecutive weeks. 

Overall, the various money supply growth rates depicted in the table below are continuing to fall. Excluding the 1- and 3-week annualised growth rate, all growth rates except for the 7- and 20-year annualised growth rates are currently lower than they were one year ago.