Household net worth declined by $US140.9 billion in the third quarter.
According to the Federal Reserve’s latest Z.1 Financial Accounts of the US report — formerly known as the flow of funds report — household net worth fell by 0.2% from the previous quarter.
Here are the highlights from the Fed’s report:
- The value of directly and indirectly held corporate equities fell by $US700 billion.
- Domestic nonfinancial debt outstanding totaled $US40.9 trillion and grew at an annualized pace of 4.4%.
- Household debt rose at an annual rate of 2.7% in the third quarter.
- Nonfinancial business debt rose at a rate of 5.2% in the third quarter.
- State and local government debt declined at an annualized rate of 2.8% in the third quarter after rising 1.2% in the second quarter.
- Federal government debt rose at a pace of 7.2% in the third quarter, up from a 2.5% rate in the second quarter.
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