(MENAFN) The National Bureau of Statistics (NBS) said that China's economic growth slowed to 7 percent in the first quarter of 2015, down from 7.3 percent in the fourth quarter, Xinhua reported.
The latest figure was better than the forecasts by multiple institutions that first-quarter growth would fall slightly below 7 percent due to weak investment and demand, the NBS said.
The first-quarter gross domestic product (GDP) totaled USD2.29 trillion, up 7 percent on year, indicating a robust industrial output growth of 7.9 percent in the tertiary industry in the period.
"The economy is generally holding steady in the first quarter because employment, consumer prices and market expectations are basically stable, despite a slowdown in growth," NBS spokesperson said.
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