Friday, 9 May 2014

The Short Version of the "Austrian" True Money Supply (TMS), as of 28 April 2014

The short version of the Austrian True Money Supply (SVTMS) for the U.S. decreased by 1.14% (44.87% annualised) during the most recent week ending 28 April 2014 to hit $10.0100 trillion. The money supply is calculated from the latest data published by the Federal Reserve. 

At 8.18%, the 1-year growth rate dropped slightly from last week and was also slightly below the 8.24% 52 week average. Though the growth rate has stabilised somewhat during the last few months, it remains stuck in a downward trend.

The 5-year annualised growth rate dropped to 10.67%, the lowest growth rate since week ending 30 July 2012 and 74 basis points lower than one year ago. This week represented the 22nd week in a row with a declining growth rate compared to last year (see the line in the chart below).

Most growth rates continue to be lower than a year ago. The 7-, 20- and 30-year growth rates (ignoring the short term growth rates) are the exceptions. The 20-year annualised growth rate remains stable around the 7.50% mark, or 60 basis points higher than the long term average of 6.90%.

Visit the "Austrian" True Money Supply archive here.