Federal Government; Net Lending (+) or Borrowing (-) (Financial Account), Transactions (FGLBAFQ027S)
Federal Government; Net Lending (+) or Borrowing (-) (Financial Account), Transactions — Historical Chart
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Federal Government; Net Lending (+) or Borrowing (-) (Financial Account), Transactions (FRED series FGLBAFQ027S) is a quarterly economic growth indicator measured in millions of u.s. dollars. The series is published through FRED, the Federal Reserve Bank of St. Louis economic database, with history going back to 1946. Values are seasonally adjusted, smoothing out predictable calendar effects so that underlying trends are easier to see.
Why it matters: Federal Government; Net Lending (+) or Borrowing (-) (Financial Account), Transactions is one of the indicators traders, economists, and policymakers watch within the economic growth complex. It is a core gauge of economic activity, and sustained changes often mark turning points in the business cycle.
How to read it: focus on the direction and persistence of changes rather than any single quarterly print. Comparing the latest value against its level a year ago, and against its long-run range since 1946, gives a better sense of whether the series is signaling acceleration, deceleration, or a turning point.
About This Series
Financial Accounts Guide (https://www.federalreserve.gov/apps/fof/Default.aspx). With each quarterly release, the source may make major data and structural revisions to the series and tables. These changes are available in the Release Highlights (https://www.federalreserve.gov/apps/fof/FOFHighlight.aspx). In the Financial Accounts, the source identifies each series by a string of patterned letters and numbers. For a detailed description, including how this series is constructed, see the series analyzer (https://www.federalreserve.gov/apps/fof/SeriesAnalyzer.aspx?s=FA315000005&t=) provided by the source.</p>"
Recent Data
| Date | Value (Mil. of U.S. $) | Change |
|---|---|---|
| October 1, 2025 | -1,683,282 | +498,134 |
| July 1, 2025 | -2,181,416 | -1,097,142 |
| April 1, 2025 | -1,084,274 | +1,151,039 |
| January 1, 2025 | -2,235,313 | +200,481 |
| October 1, 2024 | -2,435,794 | -184,795 |
| July 1, 2024 | -2,250,999 | -873,327 |
| April 1, 2024 | -1,377,672 | +593,700 |
| January 1, 2024 | -1,971,372 | — |
Frequently Asked Questions
What is Federal Government; Net Lending (+) or Borrowing (-) (Financial Account), Transactions today?
The latest value of Federal Government; Net Lending (+) or Borrowing (-) (Financial Account), Transactions (FGLBAFQ027S) is shown at the top of this page, along with its observation date and the change from the prior reading. Data is sourced from FRED and refreshed regularly.
How often is Federal Government; Net Lending (+) or Borrowing (-) (Financial Account), Transactions updated?
Federal Government; Net Lending (+) or Borrowing (-) (Financial Account), Transactions is reported quarterly (Quarterly, End of Period). New observations appear on FRED shortly after the source agency releases them, and this page updates daily.
What does a rising Federal Government; Net Lending (+) or Borrowing (-) (Financial Account), Transactions mean?
A sustained rise in Federal Government; Net Lending (+) or Borrowing (-) (Financial Account), Transactions signals strengthening readings in this economic growth measure, in millions of u.s. dollars. Whether that is positive or negative for markets depends on context — compare the move against the series’ trend and related indicators in the same category.
Where does the FGLBAFQ027S data come from?
The data comes from FRED® (Federal Reserve Economic Data), maintained by the Federal Reserve Bank of St. Louis, under series ID FGLBAFQ027S. History is available back to 1946.
Related Economic Growth Indicators
- Government Consumption Expenditures and Gross Investment5,416.4
- Real Government Consumption Expenditures and Gross Investment3,999.46
- Gross Domestic Product31,819.46
- Real Gross Domestic Product24,152.66
- Gross Private Domestic Investment5,620.4
- Real Gross Private Domestic Investment4,483.14
- Net Exports of Goods and Services-895.04
- Personal Consumption Expenditures21,979.4
Data sourced from FRED®, Federal Reserve Bank of St. Louis: Federal Government; Net Lending (+) or Borrowing (-) (Financial Account), Transactions (FGLBAFQ027S). Retrieved from fred.stlouisfed.org. Last updated March 19, 2026.