Today the Fed posted the third quarter Financial Accounts, which includes flow of funds, balance sheet, & integrated macroeconomic account data.
They highlight the following developments in the third quarter:
- Household net worth increased by $3.8 trillion due to increasing stock & home prices and a high saving rate.
- Household debt grew at a 5.6% annualized rate, driven by mortgage debt increases and more subdued growth in nonmortgage consumer credit.
- Nonfinancial business debt contracted at a 0.9% annualized rate after two quarters of rapid growth, reflecting a decline in outstanding nonmortgage depository loans (loans from banks, credit unions, and S&Ls).