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China Hikes GDP Estimate for 2013
China's National Bureau of Statistics has increased its estimate of last year's the country's gross domestic product by 3% to 58.8 trillion yuan ($9.5 trillion), Reuters reports.
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China's National Bureau of Statistics has increased its estimate of last year's the country's gross domestic product by 3% to 58.8 trillion yuan ($9.5 trillion), Reuters reports.
The upward adjustment credits a stronger contribution from the service sector, which accounted for 47% of China's GDP in 2013. Manufacturing was adjusted downward by 0.2 points to 43.7%.
The bureau says the corrections could affect the size but not the growth rate of 2014 GDP. China has been trying to sharpen its statistical system to address widespread skepticism about the reliability and accuracy of its data, Reuters notes.
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