BUSINESS

China's Economic Growth Slows To 6.9%, Lowest Since Financial Crisis

10/19/2015 08:34 EDT | Updated 10/19/2016 05:12 EDT
BEIJING — China's economic growth decelerated in the latest quarter to a six-year low of 6.9 per cent despite repeated interest rate cuts and other stimulus measures.

The figure reported Monday for the three months ended September was down from the previous quarter's 7.0 per cent and the lowest since the first quarter of 2009 in the aftermath of the global financial crisis.

Weakening trade and manufacturing have fueled concern Beijing will fail to meet its official growth target of 7 per cent for the year, raising the risk of politically dangerous job losses.

The communist government has cut interest rates five times since last November in an effort to shore up growth.