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Income Falls 0.6%, Cash Flow Slows, Savings Rate Record Low

6/2/2026

32 8 Full Breakdown

Summary

Story summary

Goldman Sachs economist Manuel Abecasis warned income per worker fell 0.6% last year, a decline seldom seen outside recession.
The firm expects cash-flow growth to slow to 0.3% by Q4 2026 as consumer spending is forecast to grow 1.3% through 2026, below consensus.
Lower-income households face biggest squeeze because they spend more on food and energy, as the savings rate fell to 2.6% in April 2026, the lowest on record.

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Story summary

Goldman Sachs economist Manuel Abecasis warned income per worker fell 0.6% last year, a decline seldom seen outside recession.
The firm expects cash-flow growth to slow to 0.3% by Q4 2026 as consumer spending is forecast to grow 1.3% through 2026, below consensus.
Lower-income households face biggest squeeze because they spend more on food and energy, as the savings rate fell to 2.6% in April 2026, the lowest on record.