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Chinas Q3 GDP growth falls to five-year low at 7.3%, govt says
China's GDP growth slumped to a five-year low in July-SeptemberBeijing - China's gross domestic product expanded 7.3 percent year-on-year in July-September, official data showed Tuesday, slumping to a five-year low despite official efforts to shore up growth in the world's second-largest economy. The third-quarter figure announced by the National Bureau of Statistics was lower than the 7.5 percent expansion in the previous three months, but exceeded the median forecast of 7.2 percent in an AFP survey of 17 economists. It is the slowest since the 6.6 percent recorded in the first quarter of 2009, in the depths of the global financial crisis. "China's economy showed a good momentum of stable growth in the first three quarters of the year with progress made and quality improved," the NBS said in a statement. The NBS also said the economy expanded 7.4 percent in the first nine months of the year. Separately, the Bureau said industrial production, which measures output at factories, workshops and mines, rose 8.0 percent year-on-year in September. That is a rebound from a more than five year low of 6.9 percent in August. Retail sales, a key indicator of consumer spending, expanded 11.6 percent in the same month, while fixed asset investment, a measure of government spending on infrastructure, rose 16.1 percent on-year in the first nine months.

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