6 Z.1, March 12, 2009


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

1977 12.8 15.6 16.6 15.5 12.5 12.0 8.4 11.0 18.9 11.7

1978 13.8 16.9 17.5 17.5 13.1 11.5 15.4 9.2 22.1 18.7

1979 12.2 15.4 16.4 13.9 13.4 10.9 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 4.8 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 15.6 16.1 14.6 15.9 11.0 12.7 31.8 16.5 19.4 0.5

1986 11.9 11.5 13.7 9.1 11.4 13.8 10.9 13.6 26.2 4.0

1987 9.0 10.4 13.4 4.8 7.7 8.8 12.0 8.0 18.2 2.5

1988 9.0 9.9 11.8 6.7 9.8 10.9 6.0 8.0 13.2 2.9

1989 7.2 9.3 10.9 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 6.0 5.5 7.4 0.3 1.2 5.3 8.3 9.6 18.7

1994 4.7 7.6 5.6 15.2 3.9 5.1 -3.9 4.7 13.9 -2.4

1995 5.2 6.8 4.8 14.4 7.4 8.8 -5.5 4.1 11.6 17.7

1996 5.4 6.9 6.2 9.0 6.6 6.8 -2.0 4.0 12.1 15.5

1997 5.6 5.8 6.1 5.5 10.0 10.6 4.9 0.6 12.1 10.6

1998 6.6 7.8 8.0 7.2 11.7 11.0 6.2 -1.4 19.4 5.1

1999 6.4 8.4 9.4 7.8 10.8 10.0 3.3 -1.9 16.2 2.4

2000 5.0 9.1 8.7 11.4 9.3 8.5 1.4 -8.0 11.0 8.4

2001 6.3 9.6 10.5 8.7 5.8 4.6 8.8 -0.2 10.7 -1.4

2002 7.3 10.8 13.3 5.7 2.6 0.5 11.1 7.6 9.6 10.8

2003 8.1 11.6 14.2 5.2 2.5 1.8 8.3 10.9 10.6 3.9

2004 8.9 11.2 13.6 5.5 6.2 4.1 7.4 9.0 8.9 12.4

2005 9.5 11.1 13.3 4.3 8.7 6.4 10.2 7.0 9.3 7.8

2006 8.9 10.0 10.9 4.5 10.5 8.5 8.2 3.9 10.0 21.9

2007 8.6 6.6 6.6 5.5 13.1 13.4 9.3 4.9 12.4 6.6

2008 5.8 0.4 -0.4 1.7 4.8 4.8 2.2 24.2 6.4 -7.8

2002 -- Q1 6.4 10.3 12.1 6.1 4.1 2.7 6.7 2.4 9.2 15.1

 Q2 7.7 10.0 11.8 7.2 2.4 0.2 11.4 11.9 9.3 6.6

 Q3 6.4 9.6 13.0 4.5 0.9 -1.9 11.4 7.9 8.1 2.9

 Q4 8.0 11.8 13.7 4.5 2.8 0.9 13.1 7.4 10.5 17.1

2003 -- Q1 6.4 10.6 12.5 5.6 2.9 2.4 7.5 2.9 11.6 2.9

 Q2 10.8 12.7 15.6 5.8 3.6 3.7 11.5 20.0 8.2 15.6

 Q3 7.5 11.3 14.2 5.1 1.7 0.5 6.5 9.7 9.6 -11.2

 Q4 6.8 9.8 11.9 4.0 1.6 0.5 6.8 9.5 11.5 8.8

2004 -- Q1 8.3 10.0 11.7 6.4 5.6 3.1 9.9 8.5 7.7 11.7

 Q2 8.7 11.4 14.3 3.4 4.3 1.5 4.2 12.0 9.3 0.9

 Q3 7.8 9.4 12.0 5.5 6.0 4.1 8.4 7.0 8.0 10.0

 Q4 9.6 12.0 13.9 6.2 8.3 7.5 6.2 7.3 9.6 25.0

2005 -- Q1 8.7 9.2 11.0 5.0 6.9 4.3 11.7 9.2 8.0 4.6

 Q2 8.8 11.2 13.2 4.7 8.3 5.9 7.5 4.4 9.6 7.8

 Q3 9.5 11.3 13.7 4.3 8.2 6.0 12.2 6.0 6.0 9.7

 Q4 9.9 10.8 12.8 2.7 10.2 8.9 7.9 7.8 12.7 8.4

2006 -- Q1 9.7 11.2 13.3 2.8 10.2 8.1 5.2 6.6 10.6 13.7

 Q2 9.2 11.4 12.5 5.4 10.3 8.3 7.1 2.6 11.8 12.4

 Q3 7.4 8.7 9.2 4.7 7.7 4.8 8.1 3.1 7.4 37.0

 Q4 8.4 7.1 6.8 4.9 12.3 11.9 11.3 3.1 8.9 18.5

2007 -- Q1 8.1 7.0 7.8 5.0 10.5 11.2 10.9 5.5 10.5 9.8

 Q2 8.1 7.2 7.6 5.4 12.9 14.0 10.0 0.3 9.9 15.4

 Q3 9.1 5.9 4.6 7.2 14.3 13.8 7.2 8.0 16.7 0.2

 Q4 8.0 5.6 5.8 4.1 12.4 12.1 7.7 5.3 10.1 0.8

2008 -- Q1 5.2 3.0 2.4 4.7 7.2 6.1 3.5 8.1 5.4 14.0

 Q2 3.1 0.3 -0.3 3.9 5.8 6.0 0.9 5.9 5.7 3.8

 Q3 8.1 0.2 -2.3 1.5 4.1 4.4 3.1 39.2 6.8 -25.6

 Q4 6.3 -2.0 -1.6 -3.2 1.7 2.2 1.2 37.0 7.2 -22.9

1. Data shown are on an end-of-period basis.
Z.1, March 12, 2009
 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

1977 321.1 127.9 85.9 35.5 117.1 73.2 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 439.7 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 791.7 219.0 127.3 81.7 323.0 204.9 52.5 197.2 157.8 8.4

1985 958.9 313.8 181.5 84.0 255.9 182.9 163.6 225.7 204.0 1.2

1986 846.4 261.1 198.8 55.8 295.1 223.9 74.2 216.0 328.8 9.7

1987 718.6 263.8 221.5 32.3 220.5 162.7 90.4 143.9 290.6 6.3

1988 784.4 271.5 215.7 46.6 307.4 222.4 50.4 155.1 250.2 7.4

1989 684.2 282.9 224.9 47.0 207.6 160.0 47.4 146.4 225.0 10.2

1990 656.6 231.8 199.2 15.1 130.8 136.5 47.1 246.9 211.2 23.9

1991 469.6 184.1 173.5 -8.8 -83.9 -52.8 91.2 278.2 156.0 15.1

1992 512.3 198.8 171.1 9.2 -7.0 24.3 16.5 304.0 238.9 24.1

1993 561.5 237.7 156.5 61.4 9.7 30.7 57.9 256.1 291.5 69.8

1994 578.3 322.7 167.4 135.0 145.3 130.2 -45.5 155.9 462.0 -11.2

1995 678.7 309.8 154.0 147.0 285.3 237.7 -60.8 144.4 439.5 78.3

1996 733.8 336.4 205.5 105.7 273.0 199.9 -20.5 144.9 514.0 88.0

1997 813.6 300.9 216.1 70.3 438.8 333.9 50.8 23.1 574.1 69.9

1998 1007.0 426.0 301.6 97.1 566.8 383.2 66.8 -52.6 1026.8 37.2

1999 1043.2 495.0 380.0 112.4 582.1 383.7 37.3 -71.2 1027.4 19.0

2000 864.8 583.5 385.7 176.5 560.3 361.9 16.9 -295.9 807.3 63.0

2001 1152.7 672.2 506.9 150.7 380.6 212.8 105.5 -5.6 874.2 -11.2

2002 1412.3 830.8 706.4 107.9 179.8 22.9 144.1 257.6 879.2 93.4

2003 1677.4 984.1 859.7 104.4 177.2 87.3 120.1 396.0 1066.6 42.4

2004 1993.5 1061.1 937.8 115.0 455.2 204.0 115.4 361.9 977.8 154.7

2005 2326.6 1171.1 1040.7 94.5 676.9 332.5 171.7 306.9 1114.1 112.6

2006 2392.7 1169.2 964.1 104.4 889.0 469.5 151.2 183.4 1301.0 331.3

2007 2500.0 848.8 651.5 133.6 1228.4 801.3 185.7 237.1 1770.7 124.3

2008 1845.1 50.9 -46.2 44.3 507.0 323.7 48.0 1239.2 1040.3 -157.9

2002 -- Q1 1241.7 788.4 643.9 115.0 285.0 129.4 86.8 81.6 846.3 130.6

 Q2 1508.1 785.7 648.4 139.2 166.8 9.4 150.8 404.8 867.0 59.3

 Q3 1274.3 774.7 735.6 87.6 65.8 -91.0 155.6 278.2 773.7 26.4

 Q4 1625.0 974.5 797.8 89.9 201.7 43.7 183.2 265.6 1029.7 157.3

2003 -- Q1 1320.2 898.4 755.2 111.9 207.4 116.5 108.4 106.0 1166.7 31.3

 Q2 2270.9 1109.0 967.7 116.7 261.2 182.7 169.6 731.2 845.6 168.4

 Q3 1617.6 1021.9 916.8 105.5 124.1 23.9 98.1 373.5 1009.8 -126.3

 Q4 1501.0 907.1 798.9 83.6 116.1 25.9 104.3 373.5 1244.1 96.0

2004 -- Q1 1865.6 954.3 807.1 134.7 414.3 156.7 155.0 342.0 843.2 147.1

 Q2 1994.9 1114.0 1010.2 72.0 321.1 73.3 67.0 492.8 1034.9 11.1

 Q3 1828.7 940.4 883.3 119.0 453.2 203.8 136.4 298.8 912.2 129.2

 Q4 2284.9 1235.5 1050.5 134.5 632.1 382.1 103.3 314.1 1120.7 331.6

2005 -- Q1 2115.8 977.1 860.8 111.4 539.6 224.0 197.0 402.2 950.9 66.0

 Q2 2193.5 1208.8 1063.7 106.0 659.1 308.9 129.9 195.6 1163.4 113.8

 Q3 2412.6 1260.9 1136.3 98.2 665.4 317.9 215.9 270.5 743.3 143.3

 Q4 2584.5 1237.8 1102.1 62.2 843.4 479.1 144.1 359.2 1598.9 127.3

2006 -- Q1 2590.4 1321.2 1184.0 65.3 862.1 445.0 96.5 310.7 1378.7 207.7

 Q2 2524.4 1373.8 1143.3 125.6 893.6 466.8 132.7 124.2 1573.2 194.4

 Q3 2068.4 1075.5 869.3 110.4 686.9 273.1 155.4 150.6 1012.5 596.7

 Q4 2387.7 906.2 659.7 116.3 1113.3 692.9 220.2 148.0 1239.6 326.6

2007 -- Q1 2371.6 901.2 769.1 119.7 983.0 668.4 219.6 267.8 1493.3 184.4

 Q2 2405.5 943.8 763.5 132.1 1241.7 863.6 205.4 14.5 1469.1 292.9

 Q3 2750.2 784.3 472.7 178.4 1415.6 877.7 152.6 397.8 2525.5 3.3

 Q4 2472.7 765.8 600.8 104.3 1273.3 795.8 165.4 268.2 1594.8 16.4

2008 -- Q1 1661.2 409.4 251.7 120.8 763.0 417.2 76.1 412.7 872.1 281.3

 Q2 1003.9 44.4 -32.4 101.0 628.5 416.1 20.6 310.4 941.5 78.5

 Q3 2627.0 28.6 -241.3 38.4 451.2 304.8 68.7 2078.5 1126.2 -539.7

 Q4 2088.5 -278.7 -163.0 -83.0 185.3 156.8 26.7 2155.2 1221.6 -451.6
8 Z.1, March 12, 2009


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

1977 2826.6 946.7 603.0 264.9 1054.3 687.1 256.2 569.4 337.8 128.6

1978 3211.2 1105.4 708.6 311.3 1188.4 761.4 295.6 621.9 412.5 155.7

1979 3603.0 1276.1 826.7 354.6 1347.0 843.8 322.2 657.7 504.9 168.5

1980 3953.5 1396.0 926.5 358.0 1478.1 910.2 344.4 735.0 578.1 193.4

1981 4361.7 1507.2 998.2 377.9 1662.0 1027.3 372.1 820.5 682.4 214.0

1982 4783.4 1576.4 1031.1 396.7 1811.4 1117.4 413.8 981.8 778.1 208.1

1983 5359.2 1732.0 1116.2 444.9 1999.1 1230.4 461.1 1167.0 882.7 224.1

1984 6146.2 1943.3 1242.8 526.6 2325.1 1438.3 513.6 1364.2 1052.4 232.8

1985 7123.2 2277.8 1449.6 610.6 2577.6 1617.9 677.9 1589.9 1257.3 242.5

1986 7967.0 2537.3 1648.3 666.4 2871.7 1840.8 752.1 1805.9 1593.6 251.9

1987 8670.7 2755.1 1827.9 698.6 3123.2 2034.5 842.6 1949.8 1895.5 259.0

1988 9451.6 3043.6 2054.2 745.2 3410.1 2234.3 893.0 2104.9 2145.8 269.8

1989 10152.9 3336.9 2277.3 809.3 3624.4 2401.3 940.4 2251.2 2399.3 287.9

1990 10836.8 3597.8 2505.7 824.4 3753.4 2535.9 987.4 2498.1 2613.6 318.2

1991 11303.1 3785.6 2682.9 815.6 3662.6 2481.0 1078.6 2776.4 2769.6 350.4

1992 11818.6 3984.4 2854.0 824.8 3658.8 2506.9 1095.1 3080.3 3024.1 372.4

1993 12395.0 4224.5 3012.9 886.2 3681.0 2550.1 1153.0 3336.5 3321.0 468.2

1994 12979.5 4546.9 3180.3 1021.2 3832.8 2686.9 1107.5 3492.3 3791.1 443.1

1995 13674.1 4856.7 3334.4 1168.2 4133.9 2940.4 1046.7 3636.7 4233.5 567.6

1996 14407.9 5193.1 3539.8 1273.9 4406.9 3140.3 1026.2 3781.7 4747.5 657.2

1997 15219.9 5494.3 3755.9 1344.2 4843.9 3472.4 1076.9 3804.8 5301.4 723.6

1998 16226.9 5920.3 4057.5 1441.3 5410.7 3855.6 1143.8 3752.2 6328.2 783.2

1999 17308.2 6416.1 4435.2 1553.6 6030.1 4276.5 1181.0 3681.0 7349.9 748.2

2000 18184.0 7010.7 4820.9 1741.3 6590.4 4638.4 1197.9 3385.1 8158.2 814.5

2001 19319.8 7682.9 5327.8 1892.0 6954.0 4834.2 1303.4 3379.5 9158.6 865.4

2002 20732.1 8513.7 6034.2 1999.9 7133.9 4857.1 1447.5 3637.0 10037.8 1072.8

2003 22441.9 9500.1 6886.0 2104.4 7341.1 4974.4 1567.6 4033.1 10927.9 1252.7

2004 24450.2 10576.0 7838.6 2219.4 7796.3 5178.4 1683.0 4395.0 11920.5 1437.7

2005 26776.8 11747.1 8879.3 2313.9 8473.2 5510.9 1854.7 4701.9 12980.1 1512.3

2006 29166.3 12916.3 9843.4 2418.3 9358.9 5977.1 2005.9 4885.3 14278.6 1879.8

2007 31672.8 13765.1 10494.9 2551.9 10593.7 6784.9 2191.6 5122.3 16176.5 2016.5

2008 33517.9 13821.0 10453.7 2596.2 11095.8 7103.7 2239.6 6361.5 17216.5 1858.3

2002 -- Q1 19630.2 7880.0 5488.8 1920.7 7025.3 4866.6 1325.1 3399.9 9370.2 898.0

 Q2 20007.3 8076.4 5650.9 1955.6 7067.0 4868.9 1362.8 3501.1 9587.0 912.9

 Q3 20325.8 8270.1 5834.8 1977.5 7083.4 4846.2 1401.7 3570.6 9780.4 919.4

 Q4 20732.1 8513.7 6034.2 1999.9 7133.9 4857.1 1447.5 3637.0 10037.8 1072.8

2003 -- Q1 21062.1 8738.3 6223.0 2027.9 7185.7 4886.2 1474.6 3663.5 10329.5 1080.7

 Q2 21629.9 9015.5 6464.9 2057.1 7251.0 4931.9 1517.0 3846.3 10540.9 1122.8

 Q3 22034.3 9271.0 6694.1 2083.5 7282.0 4937.9 1541.5 3939.7 10793.4 1091.2

 Q4 22441.9 9500.1 6886.0 2104.4 7341.1 4974.4 1567.6 4033.1 10927.9 1252.7

2004 -- Q1 22908.3 9738.7 7087.8 2138.0 7444.7 5013.6 1606.3 4118.6 11138.7 1289.5

 Q2 23407.0 10017.2 7340.3 2156.0 7525.0 5031.9 1623.1 4241.8 11397.4 1292.2

 Q3 23879.0 10267.1 7576.0 2185.8 7638.3 5082.9 1657.2 4316.5 11640.3 1324.5

 Q4 24450.2 10576.0 7838.6 2219.4 7796.3 5178.4 1683.0 4395.0 11920.5 1437.7

2005 -- Q1 24979.2 10820.3 8053.8 2247.3 7931.2 5234.4 1732.2 4495.5 12158.2 1454.2

 Q2 25527.6 11122.5 8319.7 2273.8 8096.0 5311.6 1764.7 4544.4 12449.1 1482.6

 Q3 26130.7 11437.7 8603.8 2298.3 8262.3 5391.1 1818.7 4612.1 12561.4 1518.4

 Q4 26776.8 11747.1 8879.3 2313.9 8473.2 5510.9 1854.7 4701.9 12980.1 1512.3

2006 -- Q1 27421.2 12077.4 9175.3 2330.2 8685.4 5618.9 1878.8 4779.5 13321.5 1564.2

 Q2 28052.3 12420.9 9461.2 2361.6 8908.8 5735.6 1912.0 4810.6 13715.5 1612.8

 Q3 28569.4 12689.7 9678.5 2389.2 9080.5 5803.8 1950.8 4848.3 13968.7 1762.0

 Q4 29166.3 12916.3 9843.4 2418.3 9358.9 5977.1 2005.9 4885.3 14278.6 1879.8

2007 -- Q1 29765.7 13141.6 10035.7 2448.2 9611.1 6150.7 2060.8 4952.2 14779.1 1906.4

 Q2 30367.1 13377.6 10226.6 2481.2 9921.5 6366.6 2112.1 4955.8 15146.4 1979.7

 Q3 31054.6 13573.6 10344.7 2525.8 10275.4 6586.0 2150.3 5055.3 15777.8 1980.5

 Q4 31672.8 13765.1 10494.9 2551.9 10593.7 6784.9 2191.6 5122.3 16176.5 2016.5

2008 -- Q1 32088.1 13867.4 10557.9 2582.1 10784.5 6889.2 2210.7 5225.5 16394.5 2086.8

 Q2 32339.1 13878.5 10549.8 2607.3 10941.6 6993.3 2215.8 5303.1 16629.9 2106.4

 Q3 32995.8 13890.7 10494.4 2616.9 11049.5 7064.5 2233.0 5822.7 16911.1 1971.2

 Q4 33517.9 13821.0 10453.7 2596.2 11095.8 7103.7 2239.6 6361.5 17216.5 1858.3

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