Consumer Net Worth Grew for Third Straight Quarter

Washington, DC, March 15, 2010--U.S. households grew their net worth 1.3 percent to $54.18 trillion during fourth quarter 2009, according to a quarterly Federal Reserve report.

For the year, U.S. households’ net worth rose 5.4 percent. Net worth also rose 4.5 percent in the second quarter and 5.5 percent in the third.

“This puts us closer to the point where the consumer can start making a stronger contribution to the recovery,” said Joseph Carson, director of economic research at New York-based research and investment firm AllianceBerstein.