The U.S. Federal Reserve reported Thursday that the average income of American families declined by 2.3 percent between 2004 and 2001. The latest figures came in the Fed's 2004 Survey of Consumer Finances, a survey of household wealth which sheds light on American income and spending habits. The latest inflation-adjusted figures show the average family income was $70,700 in 2004-a slight decline from 2001, when the U.S. stock markets peaked before losing approximately half their value in the next year. However, the Federal Reserve did report that the median family income, or income level at which half of U.S. families earned more and half less, did rise slightly in 2004 to $43,200, up 1.6 percent from the 2001 level. --SP 12 59 Local Time 09 59 GMT
