China's retail sales increased by 4.8% year-on-year in June 2025, slowing from over one-year high of 6.4% and missing market expectations of a 5.6% gain. The latest figure marked the weakest growth since February, as sales significantly moderated for gold and silver jewelry (6.1% vs 21.8% in May), sports and entertainment (9.5% vs 28.3%), household appliances and audio-visual equipment (32.4% vs 53%), cultural and office supplies (24.4% vs 30.5%), communication equipment (13.9% vs 33%), and grain, oil and food (8.7% vs 14.6%). At the same time, sales declined for beverages (-4.4% vs 0.1%), tobacco and alcohol (-0.7% vs 11.2%), cosmetics (-2.3% vs 4.4%), and Chinese and Western medicine (-0.7% vs 0.3%). Meanwhile, sales accelerated for automobiles (4.6% vs 1.1%). On a monthly basis, retail activity slipped 0.16% in June 2025, from a 0.69% gain in the previous month. Considering the first half of the year, retail trade increased by 5% compared to the same period last year.