April 4, 2024
.Consumer net worth jumped 12.8% in the fourth quarter of last year. after declining 3.7% in the third quarter Over the past year consumer net worth has increased 8.0%.
The growth in net worth reflects both the steady increase in stock prices during the fourth quarter as well as the growth in home prices. While the Fed may have raised rates significantly in 2022 and 2023, the increase in net worth is allowing consumer to keep spending at least at a moderate rate.
Stephen Slifer
NumberNomics
Charleston, SC
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