Investor borrowing continues to decline in 2002 according to the latest data from the Investment Dealers Association.

The IDA is reporting that outstanding debt in client margin accounts sat at $8.1 billion at April 30. This is down slightly from $8.2 billion at the end of March.

Borrowing averaged $8.24 billion in the first two months of year. That’s down from an average of $9.1 billion in 2001.

Margin borrowing peaked with the market at $11.9 billion in September 2000, up from $10.3 billion back in April 2000, and back down to $9.3 billion in April 2001.