TEMPLATE REPORT

China’s economy has slowed for a seventh quarter as problems in Europe and the US hurt demand for its goods. The annual rate of growth was 7.4% in the third quarter, down from 7.6% in the previous three months.

China’s growth over the past few years has been led by the success of its export and manufacturing sector, as well as by a credit-fuelled investment boom directed by the government. However, China also released other key economic indicators alongside its gross domestic product (GDP) data, which indicate that things may be starting to pick up again.

China’s industrial production rose by a more-than-expected 9.2% in September from a year earlier. That was up from 8.9% growth in August.

Retail sales, meanwhile, during the same month were 14.2% higher than a year earlier, signalling that domestic consumption was growing.

China has announced various stimulus measures in recent months aimed at boosting domestic consumption and sustaining growth.

It has cut interest rates twice since June to reduce the burden on businesses and other borrowers.

Beijing has also approved infrastructure projects worth more than $150bn (£94bn), aimed at spurring a fresh wave of economic development.