Monetary Base Contracted Slower for Third Month

(Positive) In May 2017, the monetary base was $3.793 trillion. In absolute terms, the monetary base decreased for the second straight month. Compared with one year ago, in May the monetary base decreased 1.6 percent. This was the 15th straight month and the 17 month in the last 18 months that it has contracted. However, the 1/12 rate of contraction accelerated for the second month. The annual rate of change in the monetary base, now -5.1 percent, contracted at a decelerating rate for the third month in a row and was at its slowest rate of contraction since November 2016.