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(Bloomberg) -- The number of wealthy households in the U.S. reached a new high last year, roughly equivalent to the entire population of Sweden or Portugal.

More than 10.2 million households had a net worth of $1 million to $5 million, not including the value of their primary residence, according to a survey by the Spectrem Group. That’s up 2.5 percent from 2017.

Even as the ranks of the mass affluent grew, the pace slowed because of “weakening global economic growth and a contentious U.S. political environment,” said Spectrem Group President George Walper.

The U.S. Now Has More Millionaires Than Sweden Has People

Ultra-high net worth households -- those with assets between $5 million and $25 million -- increased 3.7 percent to about 1.4 million in number, while those in excess of $25 million grew by about 0.6 percent to 173,000,...

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