Summary Box: China's economic growth slows

AP News
Posted: Oct 21, 2010 4:28 PM

ECONOMIC GROWTH SLOWS: China's economic growth slowed in the latest quarter as Beijing steered its expansion to a more sustainable level.

SLOWER IS STILL FAST: The expansion cooled to 9.6 percent in the July-September quarter over a year earlier, official figures showed. That was down from the previous quarter's 10.3 percent but was still by far the highest of any major economy.

WHY IT MATTERS: China is the world's second-largest economy after the United States. Slower growth might dent a global recovery as China's appetite for iron ore, factory machinery and other imports weakens. That could hurt the United States, Australia, Europe and other economies that are looking to China to power exports.