Americans’ wealth dipped about 0.5 percent in the April-June quarter as a drop in stock prices more than offset a gain in home values.
Yet since June, a resurgent stock market has jumped about 7 percent, more than reversing last quarter’s 3 percent drop in stock prices. And it’s brought many Americans closer to regaining the wealth they lost to the recession – if they managed to keep their home and have invested in stocks.
Rising wealth could give many people and businesses the confidence to step up spending and boost U.S. economic growth.
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