China's economy is likely to have clocked its worst quarter in more than five years, according to a survey of economists.
Gross domestic product is forecast to have expanded by 7.2% in the third quarter, compared to the same period last year, according to a median estimate of 15 economists. That puts economic growth at its slowest pace since the first quarter of 2009, and well short of 7.5% expansion in the second quarter.
Economists surveyed expect full-year growth to come in at 7.3%, below the government's 7.5% target. Economic growth is forecast to dip further to 7% in 2015.
The National Bureau of Statistics will announce official third quarter GDP figures on Oct. 21.
China averaged growth of around 10% a year over the past three decades, pushing it up the list of biggest economies and boosting household wealth. But now, the pace of economic expansion is languishing -- China recorded GDP growth of 7.7% in the last two years, versus 9.3% in 2011 and 10.5% in 2010.
China's GDP growth remains the most comprehensive gauge of the country's economic health -- an important number to watch as the government works to reform the world's second-largest economy and shift to consumption-driven growth after years of exponential expansion.
Recent poor key economic data has added to concerns that China will fail to meet its growth target. While the government has previously said its willing to accept growth around 7.5%, it has continued to adopt incremental measures to boost the economy.
