China’s economy grew 4.8% in the third quarter, the slowest in a year but matching analyst expectations despite a real estate slump.

Fixed-asset investment, including real estate, fell 0.5% in the first nine months, with property investment dropping 13.9%, the steepest decline in years.

Excluding real estate, investment and private sector spending slowed, signaling weakened confidence in the economy, CNBC has reported.

Industrial production grew 6.5% in September, but experts warn that persistent weakness in investment could pressure future GDP growth.