Profits and Balance Sheet Developments at U.S. Commercial Banks in 2006
Figure 4. Financing gap at nonfarm nonfinancial corporations, 1990-2006. Data plotted as a curve. The financing gap ranges between about $20 billion and about $80 billion between 1990 and 1996 and then rises to reach a peak of about $310 billion in 2000. It falls to reach about zero in 2003, rises slightly in 2004, and then rises to reach about $50 billion in early 2005. The financing gap then falls to about negative $160 billion by early 2006. It then climbs sharply to end 2006 at about a positive $70 billion.
NOTE: The data are four-quarter moving averages. The financing gap is the difference between capital expenditures and internally generated funds.
SOURCE: Federal Reserve Board, Statistical Release Z.1, "Flow of Funds Accounts of the U.S.," table F. 102.