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U.S. household net worth rose to $90.2 trillion in the third-quarter: Fed
December 8, 2016 / 5:10 PM / 10 months ago

U.S. household net worth rose to $90.2 trillion in the third-quarter: Fed

A woman and child shop at a Walmart to Go convenience store which is open on a trial basis in Bentonville, Arkansas June 5, 2014. REUTERS/Rick Wilking

WASHINGTON (Reuters) - The net worth of U.S. households increased in the third quarter as U.S. stock prices and real estate values continued to flourish, a report by the Federal Reserve showed on Thursday.

Household net worth rose to $90.2 trillion over the quarter, up from a slightly downwardly revised $88.6 trillion in the previous period.

Wealth has been aided by rising stock prices. The S&P 500 index .SPX closed at a record level on Wednesday.

Household borrowing rose at a 4.0 percent annual rate, the report also showed, down from a downwardly revised 4.3 percent growth rate in the second quarter of 2016.

The U.S. unemployment rate dropped last month to 4.6 percent, its lowest level in nine years and consistent with a nation at full employment. The housing market also continues to strengthen.

The U.S. central bank is widely expected to raise interest rates again next week. It raised rates last December for the first time in nearly a decade but has held them steady so far this year.

Reporting by Lindsay Dunsmuir; Editing by Paul Simao

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