Chart 3: Both Households and Corporations Are Taking On More Debt
Quarter and year
Nonfarm, Nonfinancial Corporate Debt as a Percentage of Gross Domestic Product
Household Debt as a Percentage of Gross Domestic Product
Recession this quarter?
(yes or no)
Q1 1952
22.7
23.4
No
Q2 1952
22.9
24.5
No
Q3 1952
23.0
24.9
No
Q4 1952
22.9
25.2
No
Q1 1953
22.8
25.3
No
Q2 1953
22.8
26.2
No
Q3 1953
23.1
26.9
Yes
Q4 1953
23.7
28.2
Yes
Q1 1954
24.0
28.1
Yes
Q2 1954
23.9
29.2
Yes
Q3 1954
23.9
29.5
No
Q4 1954
23.8
30.1
No
Q1 1955
23.2
29.8
No
Q2 1955
23.2
30.9
No
Q3 1955
23.0
31.5
No
Q4 1955
23.8
32.3
No
Q1 1956
24.2
32.5
No
Q2 1956
24.4
33.3
No
Q3 1956
24.5
33.7
No
Q4 1956
24.7
34.0
No
Q1 1957
24.8
33.6
No
Q2 1957
25.3
34.5
No
Q3 1957
25.2
34.6
No
Q4 1957
26.1
35.7
Yes
Q1 1958
26.9
36.1
Yes
Q2 1958
26.8
36.4
Yes
Q3 1958
26.3
36.1
No
Q4 1958
26.3
36.2
No
Q1 1959
25.9
35.9
No
Q2 1959
25.9
36.4
No
Q3 1959
26.0
37.5
No
Q4 1959
26.5
38.5
No
Q1 1960
26.2
37.7
No
Q2 1960
26.8
39.0
No
Q3 1960
26.7
39.7
Yes
Q4 1960
27.7
41.1
Yes
Q1 1961
27.5
40.8
Yes
Q2 1961
27.3
41.0
No
Q3 1961
26.9
40.9
No
Q4 1961
27.1
41.2
No
Q1 1962
26.6
40.5
No
Q2 1962
26.9
41.2
No
Q3 1962
26.8
41.7
No
Q4 1962
27.5
42.7
No
Q1 1963
27.3
42.5
No
Q2 1963
27.3
43.3
No
Q3 1963
26.9
43.5
No
Q4 1963
27.4
44.2
No
Q1 1964
27.0
43.7
No
Q2 1964
27.2
44.6
No
Q3 1964
27.0
44.8
No
Q4 1964
27.8
45.8
No
Q1 1965
27.5
45.0
No
Q2 1965
27.8
45.5
No
Q3 1965
27.6
45.4
No
Q4 1965
27.8
45.2
No
Q1 1966
27.6
44.2
No
Q2 1966
28.4
44.9
No
Q3 1966
28.5
44.6
No
Q4 1966
28.8
44.7
No
Q1 1967
29.1
44.0
No
Q2 1967
29.8
44.5
No
Q3 1967
29.6
44.4
No
Q4 1967
30.4
44.6
No
Q1 1968
29.7
43.5
No
Q2 1968
29.8
43.5
No
Q3 1968
29.8
43.6
No
Q4 1968
30.5
44.0
No
Q1 1969
30.4
43.0
No
Q2 1969
31.0
43.4
No
Q3 1969
30.9
43.3
No
Q4 1969
31.6
44.0
No
Q1 1970
33.0
42.9
Yes
Q2 1970
33.7
42.9
Yes
Q3 1970
33.7
42.8
Yes
Q4 1970
34.3
43.5
Yes
Q1 1971
33.4
41.9
No
Q2 1971
33.6
42.3
No
Q3 1971
33.6
42.6
No
Q4 1971
33.8
43.5
No
Q1 1972
33.4
42.5
No
Q2 1972
33.3
42.7
No
Q3 1972
33.1
43.2
No
Q4 1972
33.2
43.3
No
Q1 1973
33.0
42.7
No
Q2 1973
33.4
43.0
No
Q3 1973
34.1
43.8
No
Q4 1973
34.4
43.8
No
Q1 1974
34.9
43.7
Yes
Q2 1974
35.3
44.0
Yes
Q3 1974
35.3
44.3
Yes
Q4 1974
35.3
44.0
Yes
Q1 1975
35.2
43.4
Yes
Q2 1975
34.8
43.3
No
Q3 1975
33.7
42.9
No
Q4 1975
33.2
42.9
No
Q1 1976
32.3
42.0
No
Q2 1976
32.5
42.6
No
Q3 1976
32.3
43.2
No
Q4 1976
32.4
43.5
No
Q1 1977
32.3
43.1
No
Q2 1977
32.2
43.5
No
Q3 1977
31.9
44.1
No
Q4 1977
32.5
44.9
No
Q1 1978
32.8
45.1
No
Q2 1978
32.0
44.6
No
Q3 1978
31.6
45.4
No
Q4 1978
31.4
45.8
No
Q1 1979
31.7
46.1
No
Q2 1979
31.9
46.7
No
Q3 1979
31.7
47.3
No
Q4 1979
31.7
48.0
No
Q1 1980
31.8
47.9
No
Q2 1980
31.9
48.6
Yes
Q3 1980
31.7
48.8
Yes
Q4 1980
31.2
47.9
No
Q1 1981
30.3
46.2
No
Q2 1981
31.3
46.9
No
Q3 1981
31.5
46.5
No
Q4 1981
32.1
47.2
Yes
Q1 1982
33.2
47.5
Yes
Q2 1982
33.5
47.5
Yes
Q3 1982
33.8
47.2
Yes
Q4 1982
33.7
47.6
Yes
Q1 1983
33.9
46.4
No
Q2 1983
33.5
46.4
No
Q3 1983
33.2
46.6
No
Q4 1983
33.3
47.0
No
Q1 1984
33.5
46.2
No
Q2 1984
34.1
46.6
No
Q3 1984
34.4
47.2
No
Q4 1984
35.6
48.2
No
Q1 1985
35.5
49.0
No
Q2 1985
36.0
50.0
No
Q3 1985
36.0
51.1
No
Q4 1985
37.4
52.6
No
Q1 1986
37.8
52.3
No
Q2 1986
38.7
53.4
No
Q3 1986
39.1
54.5
No
Q4 1986
40.5
55.7
No
Q1 1987
40.9
55.0
No
Q2 1987
41.2
56.0
No
Q3 1987
41.3
56.6
No
Q4 1987
41.6
56.2
No
Q1 1988
42.2
56.3
No
Q2 1988
42.5
56.7
No
Q3 1988
42.4
57.3
No
Q4 1988
42.5
57.8
No
Q1 1989
42.7
57.3
No
Q2 1989
43.2
57.8
No
Q3 1989
42.9
58.4
No
Q4 1989
43.0
59.6
No
Q1 1990
42.9
59.3
No
Q2 1990
43.0
59.7
No
Q3 1990
43.0
60.4
No
Q4 1990
43.3
61.4
Yes
Q1 1991
42.8
61.3
Yes
Q2 1991
42.4
61.6
No
Q3 1991
41.6
61.5
No
Q4 1991
40.6
62.0
No
Q1 1992
40.3
61.3
No
Q2 1992
39.8
61.0
No
Q3 1992
39.1
61.2
No
Q4 1992
38.6
61.4
No
Q1 1993
38.4
60.8
No
Q2 1993
38.2
61.2
No
Q3 1993
37.9
61.9
No
Q4 1993
37.5
62.0
No
Q1 1994
37.6
61.4
No
Q2 1994
37.4
61.6
No
Q3 1994
37.3
62.2
No
Q4 1994
37.1
62.7
No
Q1 1995
37.8
62.6
No
Q2 1995
38.6
63.5
No
Q3 1995
38.6
64.1
No
Q4 1995
38.7
64.6
No
Q1 1996
39.0
64.3
No
Q2 1996
39.0
64.2
No
Q3 1996
39.0
64.7
No
Q4 1996
38.7
64.8
No
Q1 1997
38.9
64.3
No
Q2 1997
39.1
64.2
No
Q3 1997
39.2
64.5
No
Q4 1997
39.9
64.8
No
Q1 1998
40.8
64.5
No
Q2 1998
41.7
65.4
No
Q3 1998
41.9
65.7
No
Q4 1998
42.2
66.0
No
Q1 1999
43.3
66.0
No
Q2 1999
43.7
66.6
No
Q3 1999
44.3
67.3
No
Q4 1999
44.0
67.2
No
Q1 2000
44.8
67.2
No
Q2 2000
45.1
67.5
No
Q3 2000
45.4
68.9
No
Q4 2000
45.6
69.9
No
Q1 2001
46.0
70.2
No
Q2 2001
46.3
71.2
Yes
Q3 2001
46.7
72.8
Yes
Q4 2001
46.5
73.9
Yes
Q1 2002
46.3
74.2
No
Q2 2002
45.9
75.3
No
Q3 2002
45.2
76.5
No
Q4 2002
45.2
78.3
No
Q1 2003
44.9
78.9
No
Q2 2003
44.8
80.5
No
Q3 2003
43.8
81.3
No
Q4 2003
43.5
82.4
No
Q1 2004
43.0
82.3
No
Q2 2004
42.4
83.0
No
Q3 2004
42.2
84.5
No
Q4 2004
42.2
85.8
No
Q1 2005
42.1
85.8
No
Q2 2005
42.1
87.1
No
Q3 2005
41.8
88.4
No
Q4 2005
41.9
90.1
No
Sources: Federal Reserve Board, Bureau of Economic Analysis.