China's economic growth edges down in latest quarter

Workers direct a crane lifting newly-made steel bars at a factory of Dongbei Special Steel Group Co., Ltd., in Dalian, Liaoning province, China, October 13, 2015. China's economic growth is expected to fall below 7 percent for the first time since the global financial crisis in the third quarter, putting pressure on policymakers to roll out more support measures as fears of a sharper slowdown spook investors. Picture taken October 13, 2015. REUTERS/China Daily CHINA OUT. NO COMMERCIAL OR EDITORIAL SALES IN CHINA.

China’s economic growth edged down in the latest quarter but was buoyed by strength in retail spending and exports.

Government data released Thursday showed the world’s second-largest economy grew at a 6.8% annual pace in the three months ending in September, down from the previous quarter’s 6.9%.

Economic activity has been unexpectedly strong this year, but forecasters expect growth to cool as Beijing tightens controls on bank lending to stem a rise in debt.

Retail sales rose 10.3% in September over a year earlier, down slightly from the 10.4% rate of the first three quarters.

Trade data reported earlier showed export growth accelerated in September to 8.1% from August’s 5.5%.