News Column

United States : US household net worth rises to record high US$81.8 trillion

June 6, 2014

US household net worth nudged up 2 per cent to a new high in the first quarter, hitting a record US$81.8 trillion as the stock market continued its upward climb and property values rose.

The S&P 500 has risen 11 per cent since Feb 5, with the Federal Reserve continuing with a highly accommodative monetary policy for a recovering US economy.

US household debt also rose 2 per cent in the first quarter, excluding charge-offs of home mortgages. Net originations of home mortgages continued to be weak, according to the Fed.

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Source: TendersInfo (India)

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