BEIJING

China’s economic growth waned to a five-year low of 7.3 percent last quarter, raising concerns of a spillover effect on the global economy but falling roughly in line with Chinese leaders’ plans for a controlled slowdown.

The third quarter figures, released today, put China on course for annual growth somewhat lower than the 7.5 percent targeted by leaders, though they have indicated there is wiggle-room in their plan. The world’s No. 2 economy grew 7.5 percent from a year earlier in the previous quarter and 7.4 percent in the first quarter.

Communist leaders are trying to steer China toward growth based on domestic consumption instead of over-reliance on trade and investment. But the slowdown comes with the risk of politically dangerous job losses and policymakers bolstered growth in the second quarter with mini-stimulus measures.

Employment, however, remained strong through the third quarter and the service industries such as retailing that leaders want to promote have done well this year despite the downturn, which has been focused largely in the property market, said economist Julian Evans-Pritchard of Capital Economics.

“There is still a lot of downward pressure on the economy,” Evans-Pritchard said. Spending on infrastructure shored up growth in the second quarter but “once that fizzled out, the downward pressure has returned.”

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