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Friday, 22 August 2014

The Short Version of the "Austrian" True Money Supply (TMS), as of 11 August 2014

Today is the one year anniversary of this weekly report. The first one, which also explains the components of the money supply discussed in this report, can be accessed by clicking the link below.

The short version of the Austrian True Money Supply for the U.S., a measure of the money supply applied in this weekly report, decreased 0.38% on last week for the week ending 11 August 2014. At $10.2273 trillion, the money supply is now up 3.53% year to date.


The 1-year growth rate of the money supply (year on year percentage change) came in at 7.72% for the week, down from 8.07% last week, and the lowest YoY growth rate for 19 weeks (week ending 31 March).


The 5-year annualised growth rate continues to head nowhere but down and growth has now dropped for 37 consecutive weeks compared to the same week the previous year. At 10.48%, the growth remains however significantly higher than the 7.54% average since November 1980.


Most of the growth rates, as shown in the table below, continue to decline compared to both 26 weeks and one year ago.


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A note on the short version vs the "full version" of the Austrian True Money Supply
As explained in the link above in this report, the money supply discussed in this report is an abbreviated version of the Austrian True Money Supply (TMS) for the simple reason that statistics for some of the components in the "full version" are only published on a monthly basis. The components only reported monthly are however relatively small compared to the total. The shortened version discussed in this report therefore make it possible to track developments in the full version on a weekly basis. This close correlation between the two is demonstrated in charts below.