Financing: fast-growth companies increasing borrowings.

Fast-growth companies, led by those in the product sector, are upping their financing activity, according to PricewaterhouseCoopers' latest Trendsetter Barometer.

* Twenty-eight percent of the nation's fastest-growing companies secured new bank loans or other financing in the fourth quarter of 2003, up from only 20 percent in the prior quarter. New loans were completed by 21 percent, up from the previous quarter's 16 percent, a recent low.

* Twenty-six percent of product-sector companies obtained new loans, up sharply from 19 percent. But, notably fewer, 17 percent of service businesses, took out new loans, up from 14 percent. Also, 21 percent of growth companies--up from 15 percent--increased their credit lines an average of 6.7 percent.

* Twenty-five percent of product companies boosted their credit by an average of 7.9 percent, while 18 percent of service businesses upped their credit an average of 5.7 percent.

"Many of these 'Trendsetter' companies are adding to their financial resources, and this bodes well for a sustained recovery," said Tracy Lefteroff, global private equity leader for PricewaterhouseCoopers. "It is encouraging to see strong, increasing representation by product sector companies."