China’s industrial output slowed and retail sales missed forecasts in July 2025

China experienced a slowdown in industrial output and retail sales in July 2025, with PV retail sales specifically falling by 20%. These results missed forecasts, highlighting a need for policy interventions to boost consumer confidence. Simultaneously, US retail sales decreased by 0.6% in July, ending a nine-month growth streak. This unexpected decline has impacted market expectations and prompted revisions to GDP forecasts, signaling a potential economic slowdown across both major global economies during this period.