6

Z.1, June 11, 1999

D.1 Debt Growth by Sector 1
In percent; quarterly figures are seasonally adjusted annual rates

Total

Federal
government

Total
nonfederal

Domestic nonfinancial sectors
Nonfederal
Households
Home
Consumer
Total
mortgage
credit

Business
Total

Corporate

State and
local
governments

Domestic
financial
sectors

Foreign

1961
1962
1963
1964
1965

6.0
6.9
6.8
7.3
7.1

3.0
2.8
1.5
2.4
0.6

7.4
8.8
9.1
9.3
9.6

7.1
8.8
9.9
9.8
8.7

8.0
8.2
8.8
8.3
7.6

3.6
9.3
12.3
12.2
11.6

7.7
9.1
9.1
9.6
11.2

6.1
7.9
7.7
9.2
11.4

7.8
7.7
6.5
7.2
7.9

7.2
13.1
18.3
13.6
16.8

9.6
8.2
11.7
12.9
7.2

1966
1967
1968
1969
1970

6.7
7.1
8.0
7.2
6.9

1.4
4.9
4.5
-1.1
4.2

8.5
7.8
9.2
9.7
7.6

6.1
4.9
8.0
7.1
4.0

5.1
5.0
6.1
5.8
3.7

6.1
5.0
9.9
8.3
3.4

11.7
11.0
10.8
12.1
10.5

12.4
11.6
11.4
12.1
10.5

6.7
6.7
7.5
9.6
8.7

17.7
1.0
14.1
32.8
14.5

5.1
9.8
6.3
6.9
5.7

1971
1972
1973
1974
1975

9.5
10.0
10.7
9.2
9.3

8.3
4.6
2.0
3.4
23.9

9.8
11.4
12.9
10.5
6.3

8.9
11.2
12.2
7.7
8.0

8.0
11.0
11.2
7.8
8.9

11.7
13.1
13.3
4.6
3.8

10.3
12.5
14.9
13.8
5.2

8.1
10.1
17.7
12.1
3.7

10.9
8.4
7.8
6.9
5.4

8.7
17.2
28.9
23.1
0.8

9.7
7.9
10.3
20.5
17.4

1976
1977
1978
1979
1980

10.8
12.8
13.8
12.2
9.5

15.6
11.0
9.2
5.8
11.8

9.6
13.3
15.0
13.7
9.0

11.6
16.1
16.8
14.6
8.0

13.1
17.4
17.4
15.3
10.3

10.6
15.5
17.4
13.8
0.6

8.3
12.1
13.3
14.1
10.5

7.7
12.2
12.0
11.6
8.6

8.4
8.4
15.4
9.0
6.9

9.0
18.9
22.1
22.1
14.5

21.5
11.6
18.6
9.5
14.0

1981
1982
1983
1984
1985

10.4
10.1
12.0
14.7
15.7

11.6
19.7
18.9
16.9
16.5

10.1
7.9
10.2
14.1
15.4

7.1
5.4
11.3
12.6
15.2

6.4
4.4
10.4
11.3
13.1

5.0
4.6
12.8
18.3
15.9

13.3
9.3
9.0
16.1
12.0

14.0
9.2
8.2
16.9
12.9

8.0
11.2
11.4
11.4
31.8

18.2
13.6
13.4
17.9
19.5

11.9
7.2
8.2
3.7
0.5

1986
1987
1988
1989
1990

11.8
9.0
9.1
7.3
6.4

13.6
8.0
8.0
7.0
11.0

11.3
9.3
9.4
7.3
5.2

11.1
11.8
9.0
8.4
7.3

13.2
15.8
10.5
9.7
9.3

9.0
4.6
6.3
6.0
1.5

11.6
6.5
10.5
6.8
3.3

14.1
8.0
11.8
8.2
5.2

10.9
12.0
6.4
5.6
5.0

26.1
18.3
13.1
10.5
8.9

4.1
2.6
3.0
4.0
9.1

1991
1992
1993
1994
1995

4.3
4.6
5.0
4.6
5.4

11.1
10.9
8.3
4.7
4.1

2.3
2.6
3.8
4.6
5.8

4.6
4.4
5.4
7.7
7.9

6.2
5.3
4.5
6.0
5.7

-1.3
0.5
7.6
14.5
14.1

-1.6
0.8
1.4
3.9
6.5

-1.8
1.8
1.9
5.6
8.3

8.6
2.2
6.0
-4.0
-4.6

6.5
8.8
9.7
14.0
11.9

5.3
8.0
22.1
-3.6
19.2

1996
1997
1998

5.1
5.0
6.2

4.0
0.6
-1.4

5.4
6.6
8.7

7.2
6.4
8.7

7.3
6.6
9.7

7.9
4.3
5.4

4.9
7.1
9.1

4.1
7.6
10.0

-0.6
5.3
7.2

13.0
13.5
19.6

17.4
11.0
3.8

1994 -- Q1
Q2
Q3
Q4

4.7
3.9
4.7
5.0

5.0
3.9
4.8
4.7

4.5
3.9
4.7
5.1

7.1
7.1
7.4
8.3

6.1
5.3
5.5
6.7

11.4
14.8
14.7
14.3

3.6
3.5
4.0
4.4

5.4
4.9
5.5
6.0

-1.5
-6.3
-3.1
-5.2

15.0
11.6
11.3
15.3

-22.2
-7.4
3.9
11.9

1995 -- Q1
Q2
Q3
Q4

5.7
6.4
4.5
4.5

5.5
6.8
2.6
1.5

5.8
6.3
5.2
5.5

7.3
8.1
8.2
7.0

5.3
6.2
6.2
4.8

14.2
14.2
14.1
11.3

7.2
7.3
4.9
5.9

9.6
9.8
6.0
6.9

-5.5
-4.5
-6.3
-2.4

7.7
11.3
11.9
14.8

18.6
12.1
22.1
19.0

1996 -- Q1
Q2
Q3
Q4

5.5
4.9
5.0
4.5

5.9
2.7
4.2
3.0

5.3
5.7
5.3
5.0

7.8
8.0
6.8
5.6

8.0
7.5
6.5
6.8

10.0
9.9
6.9
3.9

4.3
4.8
5.8
4.5

3.1
3.7
5.8
3.5

-1.9
-1.4
-3.5
4.3

8.5
16.9
9.9
14.5

12.0
9.9
24.8
18.9

1997 -- Q1
Q2
Q3
Q4

4.5
4.1
5.5
5.6

1.7
-1.1
0.8
1.1

5.4
5.9
7.2
7.2

6.5
6.2
6.8
5.5

6.0
5.7
8.9
5.3

5.2
4.8
4.1
3.0

5.2
6.1
7.6
8.8

5.7
5.9
8.1
9.8

1.6
4.0
6.7
8.4

7.2
13.6
11.8
19.0

6.0
11.7
17.1
7.6

1998 -- Q1
Q2
Q3
Q4

6.0
5.9
5.4
6.9

-0.8
-1.9
-3.6
0.7

8.3
8.5
8.3
8.8

8.1
8.2
7.7
9.7

9.8
8.0
8.7
11.0

4.6
5.2
6.3
4.9

8.4
9.2
9.4
8.3

9.0
10.2
10.6
8.9

8.4
6.9
6.2
6.4

17.1
17.4
17.8
20.9

11.9
14.7
-4.6
-6.3

1999 -- Q1

6.2

-3.2

9.1

9.4

10.1

9.5

9.6

10.7

5.6

18.4

3.5

1. Data shown are on an end-of-period basis and may differ from month-average statistics in the Board’s H.6 release.

Z.1, June 11, 1999

7

D.2 Borrowing by Sector
Billions of dollars; quarterly figures are seasonally adjusted annual rates

Total

Federal
government

Total
nonfederal

Domestic nonfinancial sectors
Nonfederal
Households
Home
Consumer
Total
mortgage
credit

Business
Total

Corporate

State and
local
governments

Domestic
financial
sectors

Foreign

1961
1962
1963
1964
1965

43.5
52.8
55.5
64.1
67.1

7.2
6.9
3.8
6.1
1.6

36.3
46.0
51.7
58.1
65.5

14.7
19.7
24.1
26.4
25.9

10.7
12.0
14.0
14.5
14.6

2.2
5.9
8.5
9.5
10.1

16.0
20.3
22.0
25.3
32.1

9.2
12.6
13.3
16.8
22.6

5.6
6.0
5.5
6.4
7.6

2.3
4.6
7.2
6.3
8.9

2.2
2.1
3.2
4.0
2.5

1966
1967
1968
1969
1970

67.3
76.2
92.6
88.9
91.3

3.6
12.9
12.5
-3.2
12.1

63.7
63.2
80.0
92.1
79.3

19.8
17.1
29.3
28.0
16.9

10.6
11.1
14.2
14.3
9.8

5.9
5.1
10.8
9.9
4.4

37.0
38.8
42.0
51.9
50.3

27.1
28.2
30.8
36.4
35.1

6.9
7.3
8.8
12.1
12.1

11.0
0.7
10.4
27.6
16.2

1.9
3.9
2.7
3.2
2.8

1971
1972
1973
1974
1975

135.3
156.1
184.0
175.0
193.5

24.9
15.0
6.9
11.9
85.6

110.5
141.1
177.0
163.1
107.8

39.7
54.7
66.2
47.3
52.9

22.0
32.8
37.2
29.0
35.7

15.6
19.5
22.5
8.9
7.8

54.4
72.4
96.8
102.3
43.8

29.8
40.1
76.6
60.3
20.5

16.4
14.0
14.1
13.4
11.1

11.1
23.9
47.0
48.5
2.1

5.1
4.4
6.3
13.8
14.1

1976
1977
1978
1979
1980

244.8
321.2
390.7
391.9
343.7

69.2
56.3
52.5
35.8
77.4

175.6
264.8
338.2
356.1
266.3

83.2
129.2
156.9
159.7
101.1

57.8
87.3
102.6
106.3
83.0

22.0
35.4
46.0
42.7
2.3

73.9
115.8
141.9
169.8
143.0

44.0
74.8
82.4
88.4
72.9

18.5
19.9
39.4
26.6
22.2

23.5
53.6
74.7
91.1
73.2

20.5
13.5
24.0
15.0
24.2

1981
1982
1983
1984
1985

410.0
439.9
573.7
791.1
963.4

85.5
161.3
185.2
197.2
225.7

324.5
278.6
388.5
593.9
737.7

97.5
79.3
174.6
215.0
291.9

58.0
42.8
104.1
123.3
159.7

17.7
17.2
50.0
80.7
82.8

199.4
157.6
166.6
326.3
282.2

127.7
94.9
92.0
207.8
185.8

27.6
41.7
47.3
52.5
163.6

105.1
93.0
104.5
157.7
205.0

23.5
16.0
17.3
8.4
1.2

1986
1987
1988
1989
1990

842.9
718.5
786.1
686.3
655.1

216.0
143.9
155.1
146.4
246.9

626.9
574.6
631.0
540.0
408.2

248.6
294.6
246.1
254.0
239.4

186.3
252.3
190.0
195.7
206.4

54.4
30.4
43.4
44.2
11.9

304.1
189.5
330.9
235.9
121.6

227.5
146.2
237.1
180.9
125.1

74.2
90.4
54.0
50.1
47.2

327.8
291.6
249.2
225.0
213.4

9.7
6.3
7.4
10.2
23.9

1991
1992
1993
1994
1995

467.5
521.9
586.6
575.7
700.0

278.2
304.0
256.1
155.9
144.4

189.2
217.9
330.5
419.9
555.6

163.5
164.2
211.6
316.1
349.0

152.8
139.2
125.0
174.5
176.2

-10.7
3.9
60.7
124.9
138.9

-59.6
29.6
52.7
150.0
258.1

-46.0
45.6
46.9
142.4
224.6

85.4
24.1
66.2
-46.2
-51.5

170.9
244.0
294.4
468.4
456.5

15.1
24.1
69.8
-14.0
71.1

1996
1997
1998

693.1
722.6
937.1

145.0
23.1
-52.6

548.1
699.5
989.7

346.0
326.6
472.7

238.7
229.5
359.6

88.8
52.5
67.6

208.9
316.8
436.7

120.4
233.2
331.6

-6.8
56.1
80.3

557.3
652.0
1068.5

76.9
56.9
21.9

1994 -- Q1
Q2
Q3
Q4

579.5
487.5
598.3
637.6

167.1
131.3
164.1
160.8

412.4
356.2
434.2
476.7

290.7
296.0
315.8
361.9

176.9
154.8
162.5
203.7

98.3
130.5
135.0
135.9

139.0
133.3
154.3
173.4

139.2
127.4
144.1
158.9

-17.3
-73.2
-35.9
-58.6

501.9
403.0
405.7
563.2

-85.8
-27.0
13.9
42.8

1995 -- Q1
Q2
Q3
Q4

740.8
848.7
605.5
605.0

190.4
239.4
93.1
54.9

550.4
609.4
512.4
550.2

324.2
363.4
378.9
329.3

162.7
191.9
195.4
154.8

139.8
144.2
148.5
123.1

287.7
295.9
202.4
246.4

259.6
270.9
170.4
197.7

-61.5
-50.0
-69.0
-25.5

295.7
442.3
476.5
611.5

68.9
47.0
88.5
80.1

1996 -- Q1
Q2
Q3
Q4

749.5
680.3
704.5
638.1

214.6
97.8
155.3
112.3

534.9
582.5
549.2
525.8

372.9
392.4
335.9
282.6

259.2
249.6
216.1
230.0

112.6
113.9
81.8
46.8

182.5
205.2
250.5
197.6

90.5
109.0
174.7
107.3

-20.5
-15.1
-37.2
45.7

364.8
737.0
451.6
675.8

53.2
45.2
115.7
93.6

1997 -- Q1
Q2
Q3
Q4

642.3
595.6
812.7
839.9

64.9
-43.5
30.3
40.8

577.4
639.1
782.4
799.2

330.0
322.7
360.3
293.4

206.6
200.2
319.0
192.3

62.5
59.5
50.3
37.8

230.4
274.0
349.5
413.5

174.0
185.0
256.0
317.7

16.9
42.5
72.6
92.3

348.0
668.4
603.1
988.3

31.2
61.7
92.5
42.3

1998 -- Q1
Q2
Q3
Q4

906.1
909.6
843.6
1089.0

-30.0
-70.9
-136.5
26.9

936.1
980.5
980.1
1062.1

440.6
453.1
436.0
561.2

363.9
302.4
336.9
435.3

58.5
66.3
81.7
64.1

401.2
448.5
471.4
425.5

296.8
345.6
368.1
315.9

94.3
78.9
72.6
75.4

933.0
987.5
1055.5
1298.2

67.8
85.9
-28.0
-38.1

1999 -- Q1

1002.0

-119.2

1121.2

556.3

411.1

126.2

498.1

390.9

66.8

1202.2

20.7

8

Z.1, June 11, 1999

D.3 Debt Outstanding by Sector 1
Billions of dollars; quarterly figures are seasonally adjusted
Domestic nonfinancial sectors
Nonfederal
Households
Home
Consumer
Total
mortgage
credit

Total

Corporate

State and
local
governments

Business

Domestic
financial
sectors

Total

Federal
government

Total
nonfederal

1961
1962
1963
1964
1965

767.7
820.6
876.0
939.9
1007.1

243.2
250.0
253.8
259.9
261.5

524.6
570.5
622.1
680.0
745.6

224.0
245.1
270.9
299.1
326.6

145.7
159.1
174.8
191.1
207.3

63.4
69.3
77.9
87.4
97.5

222.7
241.6
262.0
285.3
315.7

160.2
171.4
183.0
197.8
218.7

77.8
83.8
89.2
95.6
103.2

34.9
39.4
46.6
53.0
61.9

25.5
27.5
30.8
35.0
37.5

1966
1967
1968
1969
1970

1074.6
1150.6
1242.7
1332.0
1422.3

265.1
278.1
290.6
287.4
299.5

809.5
872.6
952.1
1044.6
1122.8

348.4
366.9
397.4
426.8
445.3

219.8
232.3
247.4
262.7
274.2

103.4
108.6
119.3
129.2
133.7

351.1
388.3
428.6
479.5
527.2

244.1
270.8
299.9
335.3
367.4

110.0
117.4
126.1
138.3
150.3

72.9
73.6
84.0
111.5
127.8

39.5
43.3
46.1
49.2
52.1

1971
1972
1973
1974
1975

1557.5
1713.5
1898.0
2072.3
2264.7

324.4
339.4
346.3
358.2
443.9

1233.1
1374.1
1551.7
1714.1
1820.8

487.1
544.5
614.1
663.5
715.3

297.2
332.5
371.4
402.5
439.9

149.2
168.8
193.0
201.9
207.0

579.2
649.0
742.8
842.4
886.2

395.6
433.0
497.0
554.6
575.2

166.7
180.7
194.8
208.2
219.4

138.9
162.8
209.8
258.3
260.4

56.6
61.1
67.4
81.2
95.6

1976
1977
1978
1979
1980

2508.3
2829.6
3214.5
3606.5
3957.9

513.1
569.4
621.9
657.7
735.0

1995.3
2260.2
2592.6
2948.9
3222.9

802.3
934.6
1094.1
1258.5
1374.1

500.3
590.8
697.3
809.1
904.6

229.0
264.4
310.4
353.1
355.4

955.2
1069.5
1203.0
1368.2
1504.3

614.3
687.6
761.6
845.4
911.6

237.8
256.2
295.6
322.2
344.4

283.9
337.8
412.5
504.9
578.1

116.0
129.4
157.6
172.9
197.2

1981
1982
1983
1984
1985

4366.4
4788.3
5364.9
6151.2
7132.7

820.5
981.8
1167.0
1364.2
1589.9

3545.9
3806.5
4197.9
4787.0
5542.8

1480.8
1547.7
1706.2
1918.4
2235.9

971.9
1002.4
1090.5
1217.9
1407.7

373.1
390.3
440.3
521.0
603.8

1693.0
1845.0
2030.6
2355.0
2629.0

1028.6
1117.9
1228.8
1434.8
1612.4

372.1
413.8
461.1
513.6
677.9

682.4
778.1
882.8
1052.4
1258.3

220.7
210.4
227.7
235.5
236.7

1986
1987
1988
1989
1990

7973.1
8675.0
9457.6
10161.0
10843.4

1805.9
1949.8
2104.9
2251.2
2498.1

6167.2
6725.3
7352.8
7909.8
8345.3

2489.0
2743.3
3011.3
3280.8
3554.3

1600.0
1816.0
2021.5
2220.7
2461.2

658.2
688.6
732.0
793.3
805.1

2926.1
3140.9
3446.5
3683.8
3798.7

1832.9
2004.5
2214.2
2397.0
2515.3

752.1
841.0
895.0
945.2
992.3

1593.6
1896.5
2145.8
2399.3
2615.8

238.3
244.8
252.4
262.2
285.9

1991
1992
1993
1994
1995

11307.6
11832.7
12434.1
13016.0
13716.0

2776.4
3080.3
3336.5
3492.3
3636.7

8531.2
8752.3
9097.6
9523.7
10079.3

3725.4
3893.4
4110.3
4429.1
4783.0

2621.6
2764.6
2894.9
3072.4
3253.5

794.5
798.3
859.0
983.9
1122.8

3728.2
3757.1
3819.4
3972.9
4226.1

2463.2
2506.5
2563.0
2708.9
2928.6

1077.7
1101.8
1167.9
1121.7
1070.2

2786.7
3046.3
3346.1
3822.2
4281.3

301.1
315.8
385.8
370.8
441.9

1996
1997
1998

14409.2
15130.2
16067.3

3781.8
3804.9
3752.2

10627.4
11325.4
12315.1

5100.2
5429.5
5902.3

3463.5
3695.4
4055.1

1211.6
1264.1
1331.7

4463.8
4776.4
5213.0

3077.7
3306.7
3638.2

1063.4
1119.5
1199.8

4838.6
5457.5
6526.1

518.8
569.6
591.6

1994 -- Q1
Q2
Q3
Q4

12585.2
12707.1
12856.7
13016.0

3378.3
3411.1
3452.1
3492.3

9206.9
9296.0
9404.5
9523.7

4183.4
4258.2
4338.0
4429.1

2939.8
2979.4
3020.8
3072.4

883.6
916.2
950.0
983.9

3860.0
3892.5
3930.2
3972.9

2603.7
2634.7
2669.8
2708.9

1163.6
1145.3
1136.3
1121.7

3479.2
3580.0
3681.4
3822.2

364.4
357.7
361.2
370.8

1995 -- Q1
Q2
Q3
Q4

13201.2
13413.4
13564.8
13716.0

3539.9
3599.8
3623.0
3636.7

9661.3
9813.7
9941.8
10079.3

4511.4
4603.4
4699.3
4783.0

3114.3
3163.4
3213.5
3253.5

1018.9
1054.9
1092.1
1122.8

4043.6
4116.5
4165.9
4226.1

2772.6
2839.2
2880.6
2928.6

1106.3
1093.8
1076.6
1070.2

3898.8
4009.3
4128.5
4281.3

388.0
399.8
421.9
441.9

1996 -- Q1
Q2
Q3
Q4

13903.4
14073.5
14249.6
14409.2

3690.4
3714.9
3753.7
3781.8

10213.0
10358.6
10495.9
10627.4

4877.4
4943.0
5028.2
5100.2

3319.5
3349.4
3404.7
3463.5

1151.0
1179.4
1199.9
1211.6

4270.5
4354.3
4415.7
4463.8

2950.1
3009.8
3052.2
3077.7

1065.1
1061.3
1052.0
1063.4

4372.5
4556.8
4669.7
4838.6

455.2
466.5
495.4
518.8

1997 -- Q1
Q2
Q3
Q4

14569.7
14718.6
14920.2
15130.2

3798.0
3787.1
3794.7
3804.9

10771.7
10931.5
11125.6
11325.4

5184.4
5266.1
5356.2
5429.5

3516.6
3567.6
3647.4
3695.4

1227.2
1242.1
1254.7
1264.1

4519.7
4587.2
4673.0
4776.4

3119.5
3164.8
3227.3
3306.7

1067.6
1078.3
1096.4
1119.5

4925.6
5092.7
5210.5
5457.5

526.6
542.1
559.1
569.6

1998 -- Q1
Q2
Q3
Q4

15356.7
15584.2
15795.1
16067.3

3797.4
3779.6
3745.5
3752.2

11559.4
11804.5
12049.5
12315.1

5539.7
5652.9
5762.0
5902.3

3786.4
3862.0
3946.3
4055.1

1278.7
1295.3
1315.7
1331.7

4876.7
4988.8
5106.6
5213.0

3380.9
3467.3
3559.3
3638.2

1143.0
1162.8
1180.9
1199.8

5690.8
5937.7
6201.5
6526.1

586.6
608.1
601.1
591.6

1999 -- Q1

16317.8

3722.4

12595.4

6041.4

4157.9

1363.3

5337.5

3735.9

1216.5

6826.6

596.7

1. Data shown are on an end-of-period basis and may differ from month-average statistics in the Board’s H.6 release.

Foreign