Key Economic Indicators
U.S. Total Net Borrowing and Lending in Credit Market
During 2003, net borrowing and lending grew steadily due to record low interest rates and a growing federal budget deficit. Net borrowing and lending in credit markets reached a new peak of $2,7 trillion in the 1st quarter of 2004 (annualized amount). Average of borrowing and lending in 2003 was roughly more than double the volume of borrowing and lending in 1995, and first two quarters of 2004 has experienced high debt levels. The growth in net borrowing during 2002 and 2003 has been driven by borrowing in the household and government sectors.
