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BRIEFLY

September 11, 1987

The nation's basic money supply fell $2.2 billion to $750.7 billion in the week ended Aug. 31, the Federal Reserve reported. M1, as the money supply is also known, includes cash in circulation, deposits in checking accounts and non-bank travelers checks. For the latest 13 weeks, M1 averaged $748.3 billion, a 0.2% seasonally adjusted annual rate of increase from the previous 13 weeks. The Fed said M2 grew at an annual rate of 5.8% in August, rising to a seasonally adjusted $2.860 trillion from $2.846 trillion in July. M2 is made up of M1 and such accounts as savings deposits and money-market mutual funds.

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