Reply #71: US household wealth rose in fourth quarter, 2005 (for top 1%?)

[UpInArms]

http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2006-03-09T170233Z_01_WAT005023_RTRIDST_0_ECONOMY-FUNDS-URGENT.XML

WASHINGTON, March 9 (Reuters) - The net wealth of American households rose in the fourth quarter of 2005 as real estate and financial assets gained value, while growth in household debt slowed slightly, the Federal Reserve said on Thursday.

In its quarterly "Flow of Funds" report, the central bank said household balance sheet values rose to $52.11 trillion in the quarter, up from a revised $50.96 trillion in the third quarter and $48.25 trillion in 2004.

The third-quarter net worth was originally reported at $51.09 trillion. The data is not seasonally adjusted.

Elsewhere in the report, the Fed said borrowing outside the financial sector rose at an annual rate of 9.5 percent in the fourth quarter, a slight slowdown from the third quarter's 9.6 percent pace.

Household borrowing rose at an 11.0 percent annual rate in the final three months of 2005, down from a 12.4 percent pace in the third quarter, the Fed said.

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Household borrowing increased 11.7 percent last year, the largest gain since a 15.8 percent rise in 1985, the Fed said.

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