August M2 Growth Slowest Since October 2014

M2 growth slowed to 0.27% from July, the slowest one-month increase since October 2014, when M2 contracted 0.24%. The 0.27% growth in August is the same growth rate seen in August 2014. Over the prior three months (May-July), M2 was growing at a 24% annualized pace, the four-month annualized rate is a still high 19%.