China’s gross domestic product (GDP) grew 7 percent in the first quarter of 2015 compared with a year earlier. The figure was in line with the official target set for this year, the Chinese National Bureau of Statistics announced on Wednesday.

Growth slowed from 7.3 percent in the fourth quarter of last year, and was the lowest rate since the first quarter of 2009.

“The Chinese economy generally held steady in the first quarter because employment, consumer prices and market expectations were basically stable, despite a slowdown in economic growth,” Chinese state-run news agency Xinhua quoted Sheng Laiyung, spokesperson of the bureau, as saying.

Mr Sheng stressed the Chinese government “is confident” on the performance of the economy for the second quarter despite increasing downward pressures.

Results of the retail sales and industrial output in China, also released on Wednesday, underscored concerns of a slowing economy.

Industrial production rose 5.6 percent in March in year-on-year terms, the slowest growth since November 2008. Retail sales climbed 10.2 percent in March compared to a year earlier, the lowest rate in nearly a decade.