US personal income rose by 0.4% month-over-month to $25.905 trillion in July 2025, following a 0.3% increase in June and in line with market consensus. This marked the second consecutive monthly increase in personal income, primarily reflecting a 0.6% gain in employee compensation, with both wages (0.6%) and supplements (0.5%) contributing. At the same time, proprietors' income with inventory valuation and capital consumption adjustments rose by 0.7%, accelerating from a 0.1% uptick in June. Meanwhile, personal income receipts on assets rose by only 0.1% in July, after being flat in the prior month. Meanwhile, disposable personal income increased by 0.4%, following a 0.3% rise in the prior month. Real disposable personal income edged up by 0.2%, after being flat in June.