China’s Q3 2014 economic growth marks its weakest performance since March 2009

China’s economic growth has reached its slowest pace since the global financial crisis, causing speculation the government may introduce more stimulus measures.

China’s GDP rose by 7.3% in the third quarter from a year earlier, compared to 7.5% in the previous quarter, official data showed.

The figure beat market forecasts for 7.2% growth but still marked its weakest performance since March 2009.

Industrial production also came in better than analyst estimates.

Manufacturing output rose 8% in September against a year earlier. However, fixed asset investment and retail sales missed expectations.

China’s National Bureau of Statistics said retail sales increased 11.6% from a year earlier, compared to forecasts for 11.7%.

Fixed-asset investment excluding rural households rose 16.1% in the first nine months from a year earlier, below analyst estimates for a 16.3% increase.

Overall, the figures show that growth continues to slow in the world’s second-largest economy, raising concerns it may have knock-on effects on the strength of the global recovery.

China’s government aims to achieve 7.5% economic growth this year, but many analysts believe that they will not be able to meet that target.

There is also speculation the government may take more steps to boost growth.

Beijing recently unveiled measures aimed at stimulating more consumer spending, including relaxing its limits on home purchases and injecting billions of dollars into its biggest banks.

China’s central bank also cut the interest rate it pays lenders for 14-day repurchase agreements last week.