© Reuters.
By Peter Nurse and Geoffrey Smith
Investing.com — China’s growth slowed, but became more balanced, in the second quarter. U.S. industrial production data for June are due, as are weekly jobless claims. Netflix (NASDAQ:) gains on speculation over its ambitions for videogaming, and oil prices weaken as Saudi Arabia and the United Arab Emirates reportedly move closer to a deal on raising output. Here’s what you need to know in financial markets on Thursday, July 15th.
1. China’s growth slows
China’s economy grew more slowly than expected in the second quarter, with GDP rising 7.9% from a year earlier, missing expectations for a rise of 8.1%. Rising commodity prices and new Covid-19 outbreaks weighed on the numbers.
At the same time, industrial output grew 8.3% in June from a year earlier, slowing from a 8.8% rise in May, while retail sales rose 12.1% from a year earlier, in a welcome sign of rebalancing toward domestic consumption.
China’s economy has largely rebounded from the coronavirus hit last year, but recent data has suggested the recovery is losing…
