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China's growth slowdown suggests recovery is losing steam

China's economy grew 4.9% in the July to September quarter from a year earlier, the slowest pace in a year and worse than analysts had predicted.

This was far slower from the previous quarter when growth was almost 8%, suggesting the recovery is weakening.

Power shortages, outbreaks of Covid-19 and pressure from Beijing on a number of industries are taking their toll.

These developments may dampen growth for the rest of the year and should not be underestimated, one expert said.

The world's second-largest economy has faced a number of challenges in recent months.


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