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China revises down 2014 GDP growth to 7.3% from 7.4%
by Cals Mon 07 Sep 2015, 22:21
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[size=28]China revises down 2014 GDP growth to 7.3% from 7.4%
By Reuters / Reuters | September 7, 2015 : 12:06 PM MYTBEIJING (Sept 7): China has revised its annual economic growth rate in 2014 to 7.3%, from the previously released figure of 7.4%, the National Bureau of Statistics said on Monday.
Gross domestic product stood at 63.6 trillion yuan (US$10.00 trillion) last year, down by 32.4 billion yuan from the initial estimate, the bureau said in a statement on its website.
The bureau has revised down 2014 growth of the services sector by 0.3 percentage points to 7.8%, which helped drag down estimated GDP growth rate, it said.
The primary sector — the agriculture sector — grew 4.1% last year, while growth of the secondary sector, which includes manufacturing and construction, rose 7.3%.
After the revision, the services sector accounted for 48.1% of GDP last year, down from the previously announced 48.2%, the bureau said.
The manufacturing and construction sector accounted for 42.7% of GDP, while the farm sector accounted for 9.2%.
The world's second-largest economy grew 7% in the first half from a year earlier — in line with the government's target for 2015, but recent downbeat data has raised the risk the government could miss the full-year growth target.
($1 = 6.3624 Chinese yuan renminbi)
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