Household income growth picked up in the second quarter, according to new data from the Organization for Economic Cooperation and Development (OECD).
Across the OECD, real household income on a per capita basis was up by 0.4% in the second quarter, accelerating from the 0.1% growth posted in the first quarter.
The rise in income growth came as real GDP per capita increased at a 0.5% rate in the second quarter, up from 0.1% in the first quarter.
“The overall acceleration in real household income per capita reflected stronger growth in most OECD countries,” the Paris-based group reported. Of 19 countries with available data, it noted that 12 posted stronger growth quarter over quarter.
In the G7, most countries saw household income growth ramp up, with the U.K. and Germany recording 0.3% growth in the second quarter, reversing contractions that took place in the first quarter.
Canada also managed a modest pickup in household income growth, which ticked up to 0.2% in the second quarter from 0.1% in the first quarter. This increase came even as real GDP per capita dropped by 0.4% in the quarter, the OECD noted.
In the U.S., household income growth came in at 0.6% in the second quarter, up from 0.5% in the first quarter, it said.