The net worth of US households grew by $2,000bn in the second quarter, marking a welcome reversal after nearly two years of recession stripping Americans of their wealth at a record pace.

Household net worth rose by 3.9 per cent last quarter to $53,000bn, fuelled by a stock market rally and a rebound in the value of real estate, the Federal Reserve said on Thursday. During the previous six quarters, household wealth had plunged by $14,200bn.