OK, I understand everyone wants their DCs to do well blah blah blah, and I'm not trying to offend anyone who is genuinely concerned, but- who cares? Teachers often make them up. Yes that's right, some unscrupulous teachers look at what they were last term, look at where they should be next term, and pick a number somewhere in between (believe me, I am a teacher, although obviously I haven't done this myself, I know plenty who will admit to it).
Levels are not real. They don't indicate how bright your kids are or how hard they have worked. They measure things that can't be measured, and are totally skewed to measure certain things and miss out others.
If you are worried about your child's achievement, discuss it with the teacher. Even better, get involved with your child's work. But relying on gleaming any kind of information from a number plucked out of thin air is simply silly.