Friday, 16 May 2014

The Short Version of the "Austrian" True Money Supply (TMS), as of 5 May 2014

The short version of the Austrian True Money Supply (SVTMS) for the U.S. increased by 0.61% (37.29% annualised) during the most recent week ending 5 May 2014 to hit $10.0713 trillion. The money supply is calculated from the latest data published by the Federal Reserve. 

The 1-year growth rate in the money supply slowed to 8.01%, down from 8.18% last week. This growth rate was 1.44% point lower than the same week last year and also lower than the 52-week average. 

The 5-year annualised growth rate came in at 10.69% for the week, 87 basis points lower than at the same stage last year. This was the 23rd week in a row with a falling growth rate compared to last year.


I refer to the money supply figures reported in this report as the "short version" of the Austrian True Money Supply. It is a short version for the simple reason that three of the components included in the true money supply (the "full version") are only reported on a monthly basis. As these items are relatively small compared to the total, the short version gives a fairly accurate picture of the development in the full version of the money supply. It also makes it possible to monitor the figures on a weekly basis (read more about this by clicking the top link in this report). Below is an update as of April, showing how similar the two series are. 

Visit the "Austrian" True Money Supply archive here.