M1 grew $7.7 billion in the week ended July 6.

The Federal Reserve reported that the nation’s basic money supply, also known as M1, rose to a seasonally adjusted $749.9 billion, from a revised $742.6 billion the week before. The Fed originally estimated the previous week’s total as $742.4 billion. M1 includes cash in circulation, deposits in checking accounts and non-bank travelers checks. The Fed also reported that M2 rose in June to a seasonally adjusted $2.8428 trillion from $2.8401 trillion in May. M2 is made up of M1 and such accounts as savings deposits and money-market mutual funds.