Stock market today: World markets edge lower as China reports slower growth in the last quarter

BANGKOK (AP) — Markets fell in Europe and Asia after China reported Wednesday that its economy grew at a 4.9% annual pace in July-September, down from 6.3% in the previous quarter.

Oil prices jumped more than $1.

Germany's DAX was unchanged at 15,253.87 while the CAC 40 in Paris also was virtually flat at 7,028.83.

Britain's FTSE 199 fell 0.2% to 7,656.76 as the government reported that inflation held steady at 6.7% in September as easing food and drink price rises were offset by higher fuel costs.

The future for the S&P 500 lost 0.2% and that for the Dow Jones Industrial Average was 0.1% lower.

China's National Bureau of Statistics said the world's second-largest economy slowed in the summer as global demand for exports faltered and the ailing property sector sank deeper into crisis.

The Chinese government has acted to help the economy with various policies, raising spending on building ports and other infrastructure, cutting interest rates and easing curbs on home-buying. But economists say wider reforms are needed to address longer-term problems, such as a fast-aging population and falling productivity, that are hindering growth.

Weak global demand and the property industry remain the biggest shadows overhanging the economy in the near term, economists said.

“The wider data on the property sector remained weak, although green shoots are appearing,” Capital Economics said in a report. “New housing starts continued to drop and are now at their lowest levels since 2005,” it said.

Hong Kong's Hang Seng shed 0.1% to 17,756.02 and the Shanghai Composite index dropped 0.8% to 3,058.71.

The Nikkei 225 in Tokyo closed flat, gaining less than 2 points to 32,042.25. South Korea's Kospi added 0.1% to 2,462.60 and Australia's S&P/ASX 200 advanced 0.3% to 7,077.60.

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