Summary Box: Household wealth dips in spring (AP)

HOUSEHOLD WEALTH DIPS: Americans' wealth declined this spring for the first time in a year, as stocks and home values fell slightly. Household net worth dropped 0.3 percent to $58.5 trillion in the April-June quarter, according to a Federal Reserve report.

BUSINESS WEALTH GROWS: Corporations, meanwhile, held a record $2 trillion in cash at the end of June, an increase of 4.5 percent from the January-March quarter.

A VICIOUS CYCLE: When people feel poorer, they spend less. That causes the economy to slow. Businesses then respond by cutting back on hiring and expansion plans. That, in turn, weakens spending.

Source: http://us.rd.yahoo.com/dailynews/rss/economy/*http%3A//news.yahoo.com/s/ap/20110916/ap_on_bi_ge/us_net_worth_summary_box

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