Washington - Stock Market Lifts US Household Wealth To $98.7 Trillion

Published on: March 8th, 2018 at 03:30 PM
By: AP

Washington - A soaring U.S. stock market and healthy home price gains lifted Americans' net worth to $98.7 trillion in the final three months of last year, a gain that could lift household spending.

The Federal Reserve says the value of U.S. stock portfolios jumped $1.3 trillion in the October-December quarter compared with the previous three months. Home values, which make up the bulk of middle-class wealth, increased $500 billion.

The figures are at a record high, though they are not adjusted for inflation or population growth. They predate February's sharp gyrations in the stock market, though stock market indexes are still up about 2 percent this year.

The solid gain in wealth could make many Americans more confident and lead them to spend more, which typically fuels economic growth.


You can view this article online at VosIzNeias.com/292935