The world's largest company, General Electric (GE), has slipped back into single digit growth for the first time in three years.

The giant US conglomerate, whose interests span aerospace, finance and broadcasting, posted a slender 3% rise in third-quarter profits.

The company said profits in its power systems business helped offset a fall in demand in other divisions more affected by the US slowdown.

GE said its growth rate would have been 13% higher without the effect of the attacks of 11 September on its GE Capital insurance businesses.

GE Capital faces losses estimated at $600m from the attacks.

Still on target

The results were in line with Wall Street estimates and GE said it was still on course to meet full-year estimates.

The company recorded third quarter profits of $3.28bn, on a turnover of $29.47bn, compared to profits of $3.18bn for the same period last year.

General Electric, which is the world's biggest company by stock market capitalisation, saw its shares gain $1.28 to $39.19 on the news.

GE chairman and chief executive Jeff Immelt said: "We remain confident that our mix of businesses and our operating system position us to deliver double-digit earnings growth of $1.41 per share this year and double-digit growth next year as well."

Mr Immelt took over at GE last month from Jack Welch, who stepped down after 20 years in charge.

The 11 September attacks also hurt GE's NBC broadcasting division, the company said.

The broadcaster suspended commercials in order to provide unbroken coverage of events in New York and Washington.

GE shares have fallen nearly 33% over the past year, including a fall of 3.6% in the month since the attacks.