China revises down 2014 GDP growth to 7.3%
Print Edition
CHINA revised downward its 2014 gross domestic product growth by 0.1 percentage points to 7.3 percent after a regular data review, the National Bureau of Statistics said yesterday.
The cut meant that the country’s economic output in 2014 was 63.61 trillion yuan (US$9.99 trillion), down 32.4 billion yuan from the preliminary reading announced in January by the bureau.
The cut in growth was because output in the service sector actually grew 7.8 percent to 30.60 trillion yuan last year after the review, down from the original reading of 8.1 percent.
Meanwhile, growth in the manufacturing sector and the agricultural sector was flat at 7.3 percent to 27.18 trillion yuan and at 4.1 percent to 5.83 trillion yuan in output.
After the adjustment, China’s economic growth rate last year remained the slowest in 24 years, which missed the government target of 7.5 percent.
In the first half of this year, China’s economy grew 7 percent, still in line with the official goal of about 7 percent.
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