Household Worth in U.S. Increases by $943 Billion, Fed Says
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Household wealth in the U.S. climbed by $943 billion in the first quarter of 2011 as rising share prices outstripped declines in home values.
Net worth for households and non-profit groups increased at a 6.8 percent annual pace to $58.1 trillion after rising at a 19 percent pace in the previous three months, the Federal Reserve said today in its flow of funds report from Washington. American households also cut debt for a 12th consecutive quarter.