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China revises down 2014 GDP to 7.3% from 7.4% on services
(MENAFN- FxPro) China's National Bureau of Statistics on Monday said it has revised down the 2014 GDP growth rate to 7.3% from the previously announced 7.4%.
The downward revision mainly came from the service industry, whose growth was lowered to 7.8% growth from the previously announced 8.1%. Beijing is counting on service industry development to compensate for the slowdown in secondary industry.
This is the first revision of the GDP number and there will be another final revision, which normally only changes the value of GDP but the growth rate remains unchanged.
The downward revision mainly came from the service industry, whose growth was lowered to 7.8% growth from the previously announced 8.1%. Beijing is counting on service industry development to compensate for the slowdown in secondary industry.
This is the first revision of the GDP number and there will be another final revision, which normally only changes the value of GDP but the growth rate remains unchanged.
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