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New Wealth of US households Up
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The net wealth of US households rose to $55.63 trillion in the fourth quarter of 2006, and domestic debt grew at a faster rate than in the third quarter, the Fed reported. Household wealth rose $1.38 trillion from a revised $54.25 trillion in the third quarter.
That's funny, wealth increases, but debt doesnt! In fact, the US is still the leader in personal debt. The Fed said all nonfinancial debt grew by 7.9 percent after a 6.5 percent rise in the third quarter.
Household debt rose by 6.6 percent in the last quarter of 2006, slowing from a 7.5 percent gain in the third quarter. Business debt rose 11 percent, up from a 6.5 percent gain in the third quarter.
Household debt increased 8.5 percent, about 3 percentage points less than in 2005.
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Barry
Mr. Do It All
Mar 9, 2007, 7:05 PM
Post #1 of 1
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