M1 rose $5.3 billion in the week ended Feb. 2.
The increase in the nation’s basic money supply known as M1 was considerably higher than what had been expected, but analysts attributed the bulge to annual changes in seasonal factors used by the Federal Reserve Board to compute the figures. The Fed said M1 rose to a seasonally adjusted $736.9 billion from a revised $731.6 billion the preceding week.
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