1Q shows a strong gain in household net worth
Helped by stocks rising, the 1Q saw US household net worth rise by 4.5% in the 1Q.
The net worth rose to $108.6 trillion versus $104 trillion in the 4th quarter.
- household debt rose by 2.3% annual rate to $15.7 trillion in Q1, after a 2.8 rise in Q4
- nonfinancial firms had $4.1 trillion in liquid assets in Q1 up from $3.9 trillion in Q4
- 12% rise in value of corporate equity held by households
The 1Q rise came on the back of the recovery in stocks which bottomed on December 24, 2018. With the strong rebound, that helps consumer spending.
How is the S&P doing this quarter?
The index closed at 2836.03. We currently are trading at 2831.29. So the index is down marginally.
