U.S. personal income growth slowed markedly in June 2026, rising just 0.2% month-over-month, down from a robust 0.7% increase in May 2026. The latest data, updated on 30 July 2026, point to a notable cooling in the pace of income gains after a strong prior month.
On a month-over-month comparison basis, the June figure reflects how personal incomes changed relative to May, while the earlier May reading captured the change versus April. The deceleration from 0.7% to 0.2% suggests that some of the momentum that boosted household incomes in late spring has faded as summer begins.
For markets and policymakers, the slowdown in income growth may signal a more moderate backdrop for consumer spending going into the second half of the year. With less pronounced month-to-month gains in personal income, the support for consumption could become more measured compared with the surge seen in May.
