Household Worth in U.S. Increases by $1.2 Trillion
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Household wealth in the U.S. rose by $1.2 trillion in the third quarter as share prices jumped in response to an improving economy.
Net worth for households and non-profit groups increased at a 9.1 percent annual pace to $54.9 trillion after dropping at a 9.9 percent rate in the previous three months, according to the Federal Reserve’s Flow of Funds report issued today in Washington. American families also cut debt for a 10th consecutive quarter.