Global wealth hits $40.7 trillion but growth slows
LONDON (Reuters) - Assets held by the world's richest people grew at a slower pace in 2007 than 2006 as the credit crisis began to bite, a study showed on Tuesday, despite rapid growth in emerging markets.
However, growth over the coming five years is forecast to be higher than last year's predictions, as U.S. economic growth eventually picks up and emerging markets continue to beat analysts' forecasts. (YAY! - Ed.)
The Merrill Lynch and Capgemini Annual World Wealth Report showed global assets held by wealthy investors rose by 9.4 percent to $40.7 trillion (20.6 trillion pounds) in 2007, below 2006's 11.4 percent growth, with the second half of the year seeing a slowdown in Western economies.
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