Chinese economy grew at its slowest pace since 2009

Chinese economy falls for first time since the global financial crisis in 2009. 

This is the conclusion from the published today reports of the National Bureau of Statistics of China.

Gross domestic product increased by 6.9% yoy in the third quarter, compared to % from April to June.  Analysts had expected even lower result of 6.8%, but even so, the data were considered disappointing against the background of continuing decline in investments.

Investments in fixed assets increased by 10.3 % below the forecasted 10.8%, while industrial production in September recorded annual growth of just 5.7%, while the expected slowdown of 6.1% to 6%. Total retail sales of consumer goods are up by 10.9% compared with 10.8 % from the previous month.

Over the past seven years, China contributed to about one-third of global economic growth. Based on the poor performance of the country this month, the International Monetary Fund lowered its forecast for expansion of the world economy from 3.3% to 3.1%.

The government has set its annual economicgrowth target at "around 7 percent" for 2015, but at the weekendChinese Premier Li Keqiang admitted that with the global economic recoverylosing steam, hitting such a target was "not easy."