Financial Accounts of the United States - Z.1

D.1 Debt growth by sector1

In percent; quarterly figures are seasonally adjusted annual rates

Date Domestic nonfinancial sectors Domestic financial sectors Rest of the world
Total Households Businesses Federal government State and local government
Total One-to-four family res. mortgages Consumer credit Total Corporate
FG384104005 FG154104005 FG153165105 FG153166000 FG144104005 FG104104005 FG314104005 FG214104005 FG794104005 FG264104005
1991 4.70 5.63 7.01 -1.07 -2.07 -2.02 11.18 8.69 6.89 2.74
1992 4.62 5.21 6.49 1.13 -0.31 0.58 10.92 1.24 8.17 4.50
1993 5.74 6.09 5.51 7.44 3.10 5.26 8.40 4.97 11.44 15.67
1994 5.26 7.54 5.56 15.23 5.64 7.41 5.11 -3.99 13.40 -2.99
1995 4.91 6.98 4.87 14.39 5.94 6.67 4.38 -5.48 11.89 15.90
1996 5.29 7.05 6.18 9.05 5.70 5.53 4.60 -1.94 12.90 14.19
1997 5.78 6.53 6.08 5.52 9.22 9.56 1.46 4.89 11.47 10.36
1998 7.06 8.03 8.07 7.22 12.63 12.34 -0.26 6.14 18.83 4.93
1999 6.64 9.33 9.28 7.80 10.14 9.14 -0.68 3.29 16.89 3.12
2000 4.71 8.67 8.64 11.36 8.79 7.84 -6.30 1.49 11.44 7.36
2001 5.84 8.88 10.54 8.65 4.76 3.28 1.35 8.83 11.20 -1.26
2002 6.74 9.84 13.26 5.56 2.47 0.35 6.81 10.86 8.63 7.51
2003 7.80 12.26 14.46 5.30 1.28 0.36 9.50 8.41 11.25 1.73
2004 9.15 11.34 13.49 5.57 6.27 4.12 8.31 11.66 9.06 7.94
2005 8.72 10.78 13.55 4.52 7.92 5.37 6.61 6.67 8.91 7.75
2006 8.49 10.60 11.20 5.18 9.76 7.44 3.92 4.51 10.80 21.16
2007 8.09 6.92 7.16 6.11 12.40 11.54 4.66 6.44 13.58 15.28
2008 5.94 0.33 0.85 1.31 5.82 4.25 21.44 1.62 4.26 -10.26
2009 3.54 0.44 0.90 -3.58 -4.12 -5.16 20.41 4.82 -9.94 14.35
2010 4.22 -0.90 -1.50 -1.10 -0.68 -0.81 18.53 2.97 -4.24 9.44
2011 3.79 0.28 -0.56 4.13 2.74 5.37 10.82 -0.75 -3.21 7.12
2012 4.71 0.23 -1.09 5.76 5.83 6.62 10.12 0.45 -1.35 8.19
2013 4.28 2.22 -0.25 6.10 5.16 6.60 6.67 0.33 1.54 8.76
2014 3.89 1.09 -0.05 7.09 7.04 7.19 5.37 -1.85 2.00 8.77
2015 4.55 2.56 1.16 7.06 7.09 7.90 5.02 1.06 1.41 -0.64
2016 4.37 3.12 1.97 6.95 5.08 3.39 5.56 1.35 2.61 1.27
2017 4.30 3.94 2.98 5.34 6.21 4.58 3.74 0.46 2.29 11.58
2018 4.73 3.20 2.92 4.51 4.44 3.96 7.58 -1.33 1.74 6.52
2019 4.71 3.53 2.82 4.62 4.73 6.33 6.58 0.03 2.68 1.81
2020 12.42 3.58 3.85 -0.29 9.48 9.85 24.06 3.29 6.21 2.43
2021 6.26 7.34 7.33 5.73 4.96 4.58 7.13 1.94 5.27 14.01
2022 5.62 6.57 6.95 7.66 5.29 4.06 6.11 -1.19 9.03 6.08
2023 5.14 2.80 2.90 2.67 2.09 1.96 9.76 0.50 1.79 4.20
2024 4.74 3.10 2.83 1.98 3.07 3.36 7.28 2.76 2.95 7.50
2025 5.19 3.48 2.91 2.31 3.83 4.17 7.25 4.77 4.33 10.27
2020:Q3 5.27 5.51 5.32 2.64 0.31 -3.38 9.08 5.67 -0.05 0.67
2020:Q4 5.74 5.65 4.53 1.90 1.35 -1.96 9.88 1.87 6.78 13.46
2021:Q1 5.19 5.96 5.19 4.02 4.82 4.25 5.25 2.99 6.09 21.77
2021:Q2 6.41 7.57 7.80 6.99 2.62 2.57 9.05 2.96 5.16 8.12
2021:Q3 4.16 7.13 7.50 5.26 4.84 5.70 1.74 2.53 5.05 19.65
2021:Q4 8.61 7.62 7.72 5.86 7.12 5.36 11.81 -0.75 4.15 4.75
2022:Q1 8.60 8.49 8.81 7.75 7.34 6.97 11.14 -2.39 12.86 9.61
2022:Q2 5.36 7.58 8.64 8.70 6.47 5.68 3.32 2.23 6.49 8.39
2022:Q3 5.18 6.41 6.39 6.67 3.85 2.39 5.97 0.08 5.76 10.53
2022:Q4 2.90 3.18 3.30 6.68 3.09 0.98 3.53 -4.67 9.90 -3.47
2023:Q1 4.15 2.54 2.78 4.21 4.32 4.67 5.57 1.07 12.06 3.57
2023:Q2 5.44 3.11 2.98 3.32 1.86 1.83 10.26 2.07 -6.25 4.91
2023:Q3 6.09 3.17 3.61 0.38 1.30 1.11 12.49 -0.05 -2.15 1.98
2023:Q4 4.51 2.26 2.11 2.68 0.84 0.19 9.39 -1.08 3.68 6.19
2024:Q1 5.05 3.14 2.16 2.06 3.93 5.04 7.46 2.31 1.91 3.01
2024:Q2 3.74 2.86 3.27 1.06 4.00 4.92 3.91 5.84 0.28 14.92
2024:Q3 5.66 2.94 3.22 2.37 3.28 3.66 9.36 3.81 8.86 3.74
2024:Q4 4.21 3.33 2.53 2.38 0.94 -0.34 7.65 -1.02 0.68 8.05
2025:Q1 3.53 2.06 2.54 1.18 5.07 6.61 3.34 4.21 6.66 10.85
2025:Q2 3.16 4.13 3.53 2.84 3.85 4.51 1.48 8.50 7.28 9.57
2025:Q3 8.82 4.27 3.47 2.29 3.85 4.40 15.50 5.46 2.62 4.79
2025:Q4 4.91 3.31 2.00 2.77 2.37 1.00 8.07 0.63 0.51 13.61

NOTES

  1. Debt securities and loans. Data shown are on an end-of-period basis.

Last Update: March 19, 2026