October 18, 2018

SINCE W, BEN & BARRY SAVED THE WORLD ECONOMY:

US is seeing 'relentless rise in household wealth,' Credit Suisse report says (Holly Ellyatt, 10/18/18, CNBC)

Household wealth in the U.S. is continuing to see an "unbroken spell of wealth gains" but China has replaced Japan in second place in the world wealth hierarchy, according to Credit Suisse's latest report on global wealth.

During the 12 months since the bank's last report to mid-2018, aggregate global wealth rose by $14 trillion to $317 trillion, representing a growth rate of approximately 4.6 percent, according to the Global Wealth Report 2018, published by Credit Suisse's Research Institute on Thursday.

This growth rate was lower than last year, but higher than the average growth rate in the post-2008 era, the report noted.

"The United States continued its unbroken spell of wealth gains since the global financial crisis, adding another $6 trillion to the stock of global wealth," Credit Suisse's annual report noted, saying that rising household wealth in the U.S. was "seemingly relentless."

Total wealth and wealth per adult in the U.S. have grown every year since 2008, even when total global wealth suffered a reversal in 2014 and 2015. The U.S. has accounted for 40 percent of all increments to world wealth since 2008, and 58 percent of the rise since 2013, Credit Suisse said.



Posted by at October 18, 2018 4:09 AM

  

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