China's economic growth edges down in latest quarter
Posted October 18, 2017 7:00 am
BEIJING (AP) - 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 percent annual pace in the three months ending in September, down from the previous quarter's 6.9 percent.
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 percent in September over a year earlier, down slightly from the 10.4 percent rate of the first three quarters.
Trade data reported earlier showed export growth accelerated in September to 8.1 percent from August's 5.5 percent.
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