6 Z.1, September 19, 2006

D.1 Debt Growth by Sector 1

In percent; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 

 Households Business State and Domestic 

Home Consumer local Federal financial

 Total Total mortgage credit Total Corporate governments government sectors Foreign

1973 10.7 12.2 11.4 13.3 14.9 17.8 7.8 2.0 28.9 10.3

1974 9.2 8.8 9.6 4.6 13.0 11.5 6.9 3.4 23.6 20.5

1975 9.3 8.3 9.4 3.8 4.8 3.3 5.4 23.9 0.8 17.4

1976 10.8 11.3 12.4 10.6 8.6 7.6 8.4 15.6 9.0 21.2

1977 12.8 15.6 16.5 15.5 12.6 12.0 8.4 11.0 18.9 11.7

1978 13.8 16.8 17.4 17.5 13.2 11.5 15.4 9.2 22.1 18.7

1979 12.2 15.3 16.4 13.9 13.5 11.0 9.0 5.8 22.1 9.6

1980 9.5 8.5 10.9 1.0 10.0 8.3 6.9 11.8 14.5 14.3

1981 10.4 7.6 7.2 5.5 12.9 13.6 8.0 11.6 18.2 12.2

1982 10.1 5.6 4.7 5.0 9.2 9.1 11.2 19.7 13.6 7.5

1983 12.0 11.1 10.2 12.1 9.1 8.1 11.4 18.9 13.4 8.3

1984 14.8 12.6 11.4 18.4 16.2 16.7 11.4 16.9 17.9 3.7

1985 15.7 15.7 14.0 15.9 11.5 12.7 31.8 16.5 19.4 0.5

1986 11.9 11.5 13.8 9.1 11.4 13.9 10.9 13.6 26.2 4.0

1987 9.0 10.4 13.5 4.8 7.7 8.8 12.0 8.0 18.2 2.5

1988 9.0 9.8 11.8 6.7 9.8 10.9 6.0 8.0 13.2 2.9

1989 7.2 9.3 11.0 6.3 6.1 7.2 5.3 7.0 10.5 3.8

1990 6.5 6.9 8.7 1.9 3.6 5.7 5.0 11.0 8.8 8.3

1991 4.3 5.1 6.9 -1.1 -2.2 -2.1 9.2 11.1 6.0 4.8

1992 4.5 5.3 6.4 1.1 -0.2 1.0 1.5 10.9 8.6 6.9

1993 4.8 5.9 5.5 7.4 0.4 1.3 5.3 8.3 9.6 18.7

1994 4.6 7.6 5.5 15.2 3.8 5.0 -4.0 4.7 13.9 -2.4

1995 5.3 7.1 4.9 14.5 7.2 8.5 -5.5 4.1 11.6 17.7

1996 5.2 6.7 6.2 9.0 6.2 6.3 -1.5 4.0 12.1 15.5

1997 5.3 5.8 6.1 5.6 9.0 9.4 4.3 0.6 12.1 10.6

1998 6.8 7.8 8.0 7.2 12.3 11.7 6.3 -1.4 19.3 5.1

1999 6.4 8.4 9.4 7.9 10.7 9.8 3.4 -1.9 16.2 2.4

2000 4.9 9.0 8.5 11.6 9.2 8.2 1.3 -8.0 10.6 8.4

2001 6.3 9.4 10.1 8.9 6.0 4.8 8.8 -0.2 11.5 -1.7

2002 7.2 10.6 12.9 5.7 2.5 0.3 11.0 7.6 9.4 10.8

2003 8.2 11.6 14.3 5.2 2.6 1.7 8.3 10.9 10.0 3.0

2004 8.9 11.6 14.1 5.4 5.9 3.6 7.4 9.0 7.9 9.9

2005 9.5 11.7 13.8 4.0 7.7 5.5 10.2 7.0 8.7 5.9

2000 -- Q1 5.5 8.5 8.6 9.0 10.3 9.9 0.3 -5.8 9.0 17.2

 Q2 4.9 9.3 8.9 11.4 11.4 10.3 -0.8 -12.2 11.1 -2.0

 Q3 4.0 8.4 7.8 11.6 6.1 4.9 2.3 -7.8 9.6 10.1

 Q4 5.0 8.8 7.7 12.5 8.0 6.6 3.4 -7.4 11.3 7.6

2001 -- Q1 6.2 9.0 9.3 10.4 5.8 4.7 8.5 0.3 11.0 -0.9

 Q2 4.9 9.7 11.0 7.6 7.1 6.1 7.5 -10.3 10.2 0.6

 Q3 6.8 8.1 9.1 5.1 5.8 5.0 6.8 6.3 12.7 -11.1

 Q4 6.7 9.4 9.4 11.6 4.7 2.9 11.3 3.2 10.0 5.2

2002 -- Q1 6.3 10.0 11.5 6.6 3.6 2.0 5.9 3.6 9.5 14.1

 Q2 6.7 9.0 10.7 6.5 1.7 -0.8 11.4 9.8 8.5 8.5

 Q3 6.7 9.5 12.8 4.7 1.6 -1.0 11.6 8.4 7.9 1.4

 Q4 8.3 12.2 14.4 4.4 3.0 1.2 13.6 7.9 10.6 17.7

2003 -- Q1 7.0 11.0 13.2 4.9 3.4 2.9 6.3 4.7 10.6 1.1

 Q2 10.4 12.9 15.4 6.4 3.5 3.3 11.5 17.6 9.1 15.0

 Q3 7.7 11.1 14.1 5.4 2.4 1.2 6.7 9.8 9.8 -13.7

 Q4 6.7 9.7 11.7 3.8 1.1 -0.6 7.8 9.9 9.3 9.8

2004 -- Q1 9.0 11.1 13.0 5.5 5.1 4.1 8.2 11.3 6.8 9.4

 Q2 7.9 11.1 13.3 3.9 4.0 1.1 4.1 8.9 8.2 -1.8

 Q3 8.6 10.6 13.9 5.9 6.8 4.3 8.6 7.0 7.2 8.0

 Q4 9.2 11.6 13.3 5.9 7.1 4.8 7.7 7.6 8.6 23.1

2005 -- Q1 9.3 9.6 11.0 4.6 6.5 5.7 9.9 13.0 6.0 3.9

 Q2 8.2 11.9 13.3 4.8 7.7 4.9 7.4 0.6 9.7 5.9

 Q3 9.7 11.9 14.8 4.4 8.1 6.0 12.3 5.8 6.2 5.8

 Q4 9.6 11.7 13.6 2.0 7.7 4.9 9.7 8.0 11.9 7.7

2006 -- Q1 9.5 9.6 10.8 2.5 9.6 8.8 3.5 11.3 8.6 7.6

 Q2 6.4 9.1 9.0 6.6 7.6 6.7 6.6 -2.4 10.2 6.7

1. Data shown are on an end-of-period basis.
Z.1, September 19, 2006 7

D.2 Borrowing by Sector

Billions of dollars; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 

 Households Business State and Domestic 

Home Consumer local Federal financial

 Total Total mortgage credit Total Corporate governments government sectors Foreign

1973 183.8 68.4 39.5 22.5 94.4 76.0 14.1 6.9 47.0 6.3

1974 175.1 55.6 37.3 8.9 94.2 56.4 13.4 11.9 49.6 13.8

1975 192.9 56.9 39.7 7.8 39.2 18.0 11.1 85.6 2.1 14.1

1976 244.7 83.1 57.6 22.0 73.9 43.4 18.5 69.2 23.5 20.5

1977 321.2 127.9 85.9 35.5 117.1 73.3 19.9 56.3 53.6 13.5

1978 390.5 160.0 105.7 46.4 138.5 78.7 39.4 52.5 74.7 24.0

1979 391.6 169.8 116.5 43.3 159.4 83.1 26.6 35.8 91.1 15.0

1980 342.9 108.3 90.2 3.4 135.0 70.2 22.2 77.4 73.2 24.2

1981 409.7 106.4 67.0 19.8 190.1 123.4 27.6 85.5 105.1 23.5

1982 439.8 83.9 47.4 18.8 152.8 93.4 41.7 161.3 93.0 16.0

1983 572.9 175.6 105.1 48.2 164.8 90.1 47.3 185.2 104.4 17.3

1984 791.7 218.9 127.2 81.7 323.0 204.9 52.5 197.2 157.8 8.4

1985 963.0 306.2 173.9 84.0 267.6 182.9 163.6 225.7 204.0 1.2

1986 845.8 261.2 198.9 55.8 294.4 223.9 74.2 216.0 328.8 9.7

1987 719.8 264.1 221.8 32.3 221.3 162.7 90.4 143.9 290.6 6.3

1988 783.8 270.7 214.8 46.6 307.6 222.4 50.4 155.1 250.2 7.4

1989 683.9 283.0 225.0 47.0 207.2 160.0 47.4 146.4 225.0 10.2

1990 655.3 231.1 198.5 15.1 130.2 136.4 47.1 246.9 211.3 23.9

1991 470.0 184.2 173.6 -8.8 -83.6 -52.9 91.2 278.2 156.0 15.1

1992 512.5 198.9 171.2 9.2 -6.9 24.3 16.5 304.0 238.9 24.1

1993 563.7 235.2 156.4 61.4 14.3 32.5 58.0 256.1 291.5 69.8

1994 568.4 319.7 166.3 134.8 138.8 126.3 -45.9 155.9 462.0 -11.2

1995 682.3 322.1 154.2 147.9 276.2 227.3 -60.4 144.4 439.4 78.3

1996 712.9 327.4 205.3 104.9 255.9 183.7 -15.3 144.9 513.8 88.0

1997 763.1 303.2 216.5 71.1 392.5 291.5 44.4 23.1 572.1 69.9

1998 1028.2 426.0 301.3 97.3 587.0 396.9 67.9 -52.6 1024.9 37.2

1999 1033.0 495.8 379.3 114.2 569.9 370.5 38.5 -71.2 1021.5 19.0

2000 849.8 580.2 377.3 181.1 550.1 341.9 15.5 -295.9 781.0 63.0

2001 1143.1 655.2 484.6 156.4 387.8 215.1 105.7 -5.6 937.8 -13.7

2002 1381.3 808.4 683.9 108.0 171.4 15.5 143.9 257.6 866.9 92.9

2003 1688.2 986.0 854.5 105.5 185.9 81.8 120.3 396.0 1008.8 31.7

2004 1996.9 1093.4 962.1 114.6 426.2 175.2 115.3 361.9 876.7 123.5

2005 2313.1 1241.4 1080.0 89.0 593.4 275.2 171.5 306.9 1037.1 84.7

2000 -- Q1 946.9 542.5 379.6 140.4 615.7 415.4 3.6 -214.8 657.5 128.7

 Q2 855.9 611.8 403.7 181.4 694.7 440.4 -9.7 -440.9 830.6 -15.7

 Q3 698.6 563.3 360.3 189.8 382.1 217.3 27.1 -274.0 741.8 78.2

 Q4 898.0 603.1 365.5 212.7 507.8 294.5 40.9 -253.8 894.3 60.8

2001 -- Q1 1122.4 629.3 445.6 181.4 380.4 213.5 102.2 10.4 890.4 -7.5

 Q2 905.3 696.8 542.0 136.6 465.8 279.7 91.5 -348.9 862.0 5.4

 Q3 1272.8 591.9 462.5 92.9 388.5 229.4 85.4 207.1 1100.0 -96.6

 Q4 1271.8 702.7 488.4 214.7 316.7 137.8 143.6 108.9 898.9 44.0

2002 -- Q1 1207.0 763.0 608.9 125.7 244.6 94.8 76.7 122.7 873.3 121.2

 Q2 1309.8 708.2 582.9 126.4 117.7 -39.6 150.2 333.8 794.9 75.8

 Q3 1326.5 763.4 714.4 93.2 112.9 -47.7 158.2 292.0 758.9 12.7

 Q4 1681.9 999.0 829.2 86.7 210.6 54.7 190.6 281.8 1040.5 161.9

2003 -- Q1 1433.6 929.2 791.1 98.9 241.5 138.6 91.6 171.3 1060.7 12.3

 Q2 2189.9 1123.3 948.0 131.2 250.6 157.9 168.9 647.1 941.4 161.7

 Q3 1651.0 998.8 905.3 111.7 173.8 58.3 101.0 377.5 1029.6 -152.4

 Q4 1478.3 892.6 773.5 80.4 77.9 -27.6 119.6 388.3 1003.2 105.4

2004 -- Q1 2002.2 1047.1 888.3 116.7 371.2 197.5 129.3 454.7 751.3 117.3

 Q2 1811.4 1078.6 940.0 83.7 296.8 53.9 66.1 369.8 916.7 -23.5

 Q3 1991.0 1055.2 1016.7 127.8 501.3 209.5 138.4 296.2 828.5 100.9

 Q4 2182.8 1192.8 1003.3 130.3 535.7 240.0 127.3 327.0 1010.4 299.1

2005 -- Q1 2254.9 1017.5 856.8 101.8 501.1 284.8 166.5 569.7 714.4 56.2

 Q2 2038.6 1284.3 1067.7 109.0 602.0 248.0 127.2 25.1 1170.7 84.5

 Q3 2453.3 1325.4 1225.9 100.1 647.5 309.2 216.5 263.9 772.9 84.7

 Q4 2505.9 1338.4 1169.6 45.3 622.9 258.7 175.7 368.9 1490.4 113.3

2006 -- Q1 2525.4 1135.9 955.5 59.0 793.1 466.9 65.0 531.5 1109.5 111.5

 Q2 1750.5 1096.8 819.6 153.2 646.5 364.0 123.4 -116.1 1342.0 100.7
8 Z.1, September 19, 2006

D.3 Debt Outstanding by Sector 1

Billions of dollars; quarterly figures are seasonally adjusted 

Domestic nonfinancial sectors

 

 Households Business State and Domestic 

Home Consumer local Federal financial

 Total Total mortgage credit Total Corporate governments government sectors Foreign

1973 1895.5 630.8 388.1 193.0 723.6 489.7 194.8 346.3 209.8 67.4

1974 2069.9 685.7 424.7 201.9 817.8 546.2 208.2 358.2 258.3 81.2

1975 2261.8 738.3 463.0 207.0 860.3 567.4 219.4 443.9 260.4 96.9

1976 2505.3 822.3 520.4 229.0 932.1 608.7 237.8 513.1 283.9 115.7

1977 2826.6 950.0 606.2 264.9 1051.1 683.8 256.2 569.4 337.8 128.6

1978 3211.2 1109.1 712.3 311.3 1184.7 757.6 295.6 621.9 412.5 155.7

1979 3603.0 1277.9 828.5 354.6 1345.2 842.0 322.2 657.7 504.9 168.5

1980 3953.5 1398.3 928.8 358.0 1475.8 907.9 344.4 735.0 578.1 193.4

1981 4361.7 1508.8 999.9 377.9 1660.3 1025.7 372.1 820.5 682.4 214.0

1982 4783.4 1578.1 1032.8 396.7 1809.7 1115.7 413.8 981.8 778.1 208.1

1983 5359.2 1734.7 1119.0 444.9 1996.4 1227.7 461.1 1167.0 882.7 224.1

1984 6146.2 1945.7 1245.3 526.6 2322.7 1435.9 513.6 1364.2 1052.4 232.8

1985 7127.3 2274.9 1446.6 610.6 2584.7 1613.2 677.9 1589.9 1257.3 242.5

1986 7970.6 2532.4 1643.4 666.4 2880.2 1838.2 752.1 1805.9 1593.6 251.9

1987 8675.4 2749.1 1821.8 698.6 3134.0 2033.3 842.6 1949.8 1895.5 259.0

1988 9455.7 3035.7 2046.3 745.2 3422.1 2234.2 893.0 2104.9 2145.8 269.8

1989 10156.7 3329.2 2269.7 809.3 3635.9 2401.0 940.4 2251.2 2399.3 287.9

1990 10839.4 3594.6 2502.5 824.4 3759.2 2530.5 987.4 2498.1 2613.6 318.2

1991 11306.1 3783.9 2681.2 815.6 3667.2 2473.9 1078.6 2776.4 2769.6 350.4

1992 11821.7 3983.3 2852.9 824.8 3663.0 2499.3 1095.1 3080.3 3024.1 372.4

1993 12400.2 4217.0 3007.8 886.2 3693.6 2548.0 1153.1 3336.5 3321.0 468.2

1994 12975.3 4536.0 3173.7 1021.0 3839.7 2681.3 1107.3 3492.3 3791.1 443.1

1995 13657.1 4858.2 3327.9 1168.8 4115.4 2908.1 1046.8 3636.7 4233.2 567.6

1996 14369.9 5187.1 3534.8 1273.8 4369.7 3090.2 1031.5 3781.7 4746.9 657.2

1997 15131.5 5492.0 3752.8 1344.9 4758.9 3378.5 1075.9 3804.8 5298.9 723.6

1998 16159.7 5918.0 4054.0 1442.1 5345.8 3775.4 1143.7 3752.2 6323.8 783.2

1999 17230.9 6414.7 4431.0 1556.3 5952.9 4183.1 1182.3 3681.0 7339.6 748.2

2000 18091.8 7006.0 4808.3 1748.5 6503.0 4525.0 1197.7 3385.1 8121.7 814.5

2001 19217.9 7661.1 5292.9 1904.9 6873.9 4723.1 1303.4 3379.5 9185.7 862.9

2002 20599.2 8469.5 5976.8 2012.9 7045.3 4738.6 1447.3 3637.0 10052.6 1072.3

2003 22319.8 9465.7 6831.2 2118.4 7253.5 4842.6 1567.6 4033.1 11047.3 1244.5

2004 24331.5 10574.0 7808.1 2233.0 7679.7 5017.8 1682.8 4395.0 11938.9 1424.8

2005 26644.6 11815.4 8888.1 2322.0 8273.1 5293.0 1854.3 4701.9 12921.5 1466.0

2000 -- Q1 17467.6 6550.3 4525.9 1591.4 6106.9 4286.9 1183.2 3627.3 7503.9 780.4

 Q2 17681.6 6703.3 4626.8 1636.8 6280.5 4397.0 1180.7 3517.0 7711.6 776.5

 Q3 17867.3 6855.2 4716.9 1695.3 6376.1 4451.4 1187.5 3448.5 7901.0 796.0

 Q4 18091.8 7006.0 4808.3 1748.5 6503.0 4525.0 1197.7 3385.1 8121.7 814.5

2001 -- Q1 18354.8 7163.3 4919.7 1793.8 6580.6 4560.8 1223.3 3387.7 8470.5 871.9

 Q2 18581.7 7337.5 5055.2 1828.0 6697.6 4631.3 1246.2 3300.5 8686.0 873.2

 Q3 18899.9 7485.5 5170.8 1851.2 6794.7 4688.6 1267.5 3352.3 8960.9 849.0

 Q4 19217.9 7661.1 5292.9 1904.9 6873.9 4723.1 1303.4 3379.5 9185.7 862.9

2002 -- Q1 19519.7 7851.9 5445.2 1936.3 6935.0 4746.8 1322.6 3410.1 9404.0 893.2

 Q2 19847.1 8028.9 5590.9 1967.9 6964.5 4736.9 1360.1 3493.6 9602.7 912.1

 Q3 20178.7 8219.8 5769.5 1991.2 6992.7 4725.0 1399.7 3566.6 9792.4 915.3

 Q4 20599.2 8469.5 5976.8 2012.9 7045.3 4738.6 1447.3 3637.0 10052.6 1072.3

2003 -- Q1 20957.6 8701.8 6174.5 2037.6 7105.7 4773.3 1470.2 3679.9 10317.7 1075.4

 Q2 21505.1 8982.7 6411.5 2070.4 7168.3 4812.8 1512.4 3841.6 10553.1 1115.8

 Q3 21917.8 9232.4 6637.9 2098.3 7211.8 4827.3 1537.7 3936.0 10810.5 1077.7

 Q4 22319.8 9465.7 6831.2 2118.4 7253.5 4842.6 1567.6 4033.1 11047.3 1244.5

2004 -- Q1 22820.4 9727.5 7053.3 2147.6 7346.3 4892.0 1599.9 4146.7 11235.1 1273.8

 Q2 23273.2 9997.2 7288.3 2168.5 7420.5 4905.5 1616.4 4239.2 11464.3 1267.9

 Q3 23785.8 10275.8 7557.3 2200.4 7545.8 4957.8 1651.0 4313.2 11686.3 1293.2

 Q4 24331.5 10574.0 7808.1 2233.0 7679.7 5017.8 1682.8 4395.0 11938.9 1424.8

2005 -- Q1 24895.2 10828.3 8022.3 2258.5 7805.0 5089.0 1724.5 4537.4 12117.5 1438.8

 Q2 25404.8 11149.4 8289.3 2285.7 7955.5 5151.0 1756.3 4543.7 12410.1 1459.9

 Q3 26018.1 11480.8 8595.7 2310.7 8117.3 5228.3 1810.4 4609.6 12529.9 1481.1

 Q4 26644.6 11815.4 8888.1 2322.0 8273.1 5293.0 1854.3 4701.9 12921.5 1466.0

2006 -- Q1 27272.7 12099.3 9127.0 2336.8 8468.1 5406.5 1870.5 4834.7 13195.5 1493.9

 Q2 27710.3 12373.5 9331.9 2375.1 8629.7 5497.5 1901.4 4805.7 13531.0 1519.1

1. Data shown are on an end-of-period basis.