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China economic growth slows to 18-month low in first-quarter

A labourer works at a construction site in HangzhouBy Adam Rose and Xiaoyi Shao BEIJING (Reuters) - China's economy grew at its slowest pace in 18 months at the start of 2014, but did a touch better than expected and showed some improvement in March, suggesting Beijing will not rush to follow up recent steps to support activity. The economy grew 7.4 percent in the January-March quarter from a year earlier, the National Bureau of Statistics said on Wednesday. It was China's slowest annual growth since the third quarter of 2012, when the world's second-largest economy also grew 7.4 percent. "The slowdown of China's economy is a reflection of a transformation of the economic mode," said Sheng Laiyun, of the National Bureau of Statistics.



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