mrmatas2277 Posted June 10 Report Share Posted June 10 WASHINGTON (Reuters) - U.S. household wealth grew to a record-high $45.153 trillion in the first quarter of 2004, boosted by rising real estate and mutual fund values, the Federal Reserve (news - web sites) said on Thursday. In its quarterly "Flow of Funds" report, the Fed said household balance sheets rose $665.5 billion over an upwardly revised $44.488 trillion figure for the fourth quarter of 2003, despite a dip in the value of corporate equities. The net worth data is not adjusted for seasonal variations. Total U.S. borrowing, excluding the financial sector, rose at a seasonally adjusted 8.6 percent annual rate in the first quarter, up from a revised 6.4 percent rise in 2003's final quarter. The Fed said the pickup in domestic nonfinancial debt mainly reflected faster borrowing by the household sector as well as federal, state and local governments. The total level of nonfinancial debt outstanding at the end of the first quarter was $22.781 trillion, it said. Quote Link to comment Share on other sites More sharing options...
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