debt

[Ian Murray <seamus2001@xxxxxxxxx>]

Non-Financial Debt Growth Rate Slows
>From Bloomberg News

June 6, 2003

Growth in non-financial debt slowed during the first quarter, reflecting
smaller gains in borrowing by consumers, companies and governments, the
Federal Reserve said.

Non-financial debt, which excludes borrowing by banks, rose at a 6.5%
annual rate during the quarter, the slowest in a year.

In the fourth quarter, non-financial debt increased at an 8% pace.

Household debt rose at a 10% pace in the first quarter after expanding at
a 10.9% pace in the fourth quarter.

The Fed's report also showed that household net worth declined to $39.313
trillion in the first quarter from $39.333 trillion in the fourth quarter
as the value of stocks and mutual funds fell.

Business debt rose at a 3.7% pace after increasing at 4.3% the previous
quarter.