Primarily reflecting the $600 stimulus checks included in the last coronavirus relief bill, the Commerce Department released a report on Friday showing U.S. personal income skyrocketed in the month of January.
The Commerce Department said personal income spiked by 10.0 percent in January after rising by 0.6 percent in December. Economists had expected personal income to soar by 9.5 percent.
Disposable personal income, or personal income less personal current taxes, also jumped by 11.4 percent in January following a 0.6 percent increase in December.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.