August 15, 2025 04:46 AM GMT China/Hong Kong Consumer | Asia Pacific China Retail Sales – July 2025: Further Deceleration China retail sales growth further decelerated to +3.7% YoY in July, vs. +4.8% in June and below consensus of +4.6%, indicating ongoing demand softness. Heading into Aug, we remain conservative and do not expect a meaningful recovery as deflation and weak sentiment continue to be key overhangs. YoY trend by category (reported YoY with rebasing among categories): Auto sales decline contrib ...