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BRIEFLY

November 14, 1987

The nation's basic money supply, known as M1, fell $5.4 billion to a seasonally adjusted $763 billion in the week ended Nov. 2, the Federal Reserve Board reported. However, the Fed said a broader money measure rose sharply in the month of October. Analysts said the decline in the Fed's money measure known as M1 had been widely expected because of the stock market turmoil that contributed to an abnormally large $9-billion rise in M1 the previous week. M1 includes cash in circulation, deposits in checking accounts and non-bank travelers checks. The Fed said M2 rose $15.5 billion to a seasonally adjusted $2.8895 trillion in October from $2.874 trillion in September. M2 is made up of M1 and such accounts as savings deposits and money market mutual funds.

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