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China Q1 economic growth slows to 7.4%

Published on Apr 16, 2014 10:06 AM

BEIJING (Reuters) - China's economy grew at its slowest pace in 18 months in the first quarter of 2014, official data showed on Wednesday, with signs of waning momentum already prompting limited government action to steady the world's second-largest economy.

Authorities have ruled out major stimulus to fight short-term dips in growth, and some analysts think the economy will continue to lose momentum into the middle of the year.

The economy grew 7.4 per cent in the January-March quarter from a year earlier, slightly stronger than the median forecast of 7.3 per cent in a Reuters poll but still slowing from 7.7 per cent in the final quarter of 2013.

It was China's slowest annual growth since the third quarter of 2012, when growth was also 7.4 per cent.

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