WASHINGTON (Reuters) - The net wealth of American households increased in the third quarter due to gains in the value of their homes and stock investments, a hopeful sign for future consumer spending.
Net financial wealth grew $1.72 trillion to $64.77 trillion, the Federal Reserve said on Thursday.
Households decreased their debt at a 2 percent annual rate during the period, the steepest since the second quarter of 2011.
Household debt fell $65.5 billion to $12.87 trillion in the third quarter.
(Reporting by Jason Lange; Editing by Chizu Nomiyama)
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