The Straits Times
Published on Oct 18, 2012

China's economy slows to 7.4% in third quarter


BEIJING (AFP) - China said on Thursday its economy grew 7.4 per cent in the third quarter of this year, easing for a seventh straight quarter and underscoring its deepest slowdown since the global financial crisis.

The result dragged down growth in the world's second-largest economy to 7.7 per cent for the first nine months of the year, the National Bureau of Statistics said.

China had previously set a target of 7.5 per cent for full-year growth.

The third-quarter growth figure matched a 7.4 per cent median forecast obtained in a Dow Jones Newswires poll of 14 economists.