— This is the script of CNBC's news report for China's CCTV on January 16, Thursday.
Welcome to the CNBC Business Daily.
The US economy appears to be on the mend, with Beige book economic data for showing moderate increases in hiring, consumer spending and industrial production.
Business activity also saw an uptick, while inflation stayed firmly below the US Fed's 2 percent target. A separate report showed that wholesale prices rose just 0.4 percent in December while core PPI bumped up a mere 0.3 percent. So for now, it looks like it's all good news on Main Street. And an improving economy could mean more millionaires down the line.
But do you know which US state has the highest number of them roaming the streets? As CNBC's Robert Frank reports, the answer may surprise you:
In which US state are you most likely to run into a millionaire? Folks at Phoenix International ranked the US states by per capita millionaires, and here are the top five.
Coming in at number five is Alaska. A very cold state but a rich one, with 6.75% of its population now millionaires.
Coming in at number four is Hawaii, only 33,000 millionaires, or 7.18% of the population.
Now our number three is the land of hedge funds, Connecticut, with 100,000 millionaires – just 7.3% of the population. And coming in at number two is our home state, New Jersey, 240,000 living there.
Coming in at the grand number one is Maryland, just outside DC. 169,000 millionaires, or 7.7% of the population. That means that 1 in 16 people in Maryland is a millionaire. Now back to you.
Li Sixuan, from CNBC's Singapore headquarters.
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