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China revises its 2014 economic growth down to 7.3%

by ChemOrbis Editorial Team - content@chemorbis.com
  • 07/09/2015 (11:37)
According to media reports, China’s National Bureau of Statistics revised the country’s 2014 economic growth rate downward by 0.1% to 7.3%, citing slower growth in the services industry, which showed a weaker growth rate of 7.8% compared with an initially reported growth of 8.1%.

Economists commented that latest downward revision on China’s economic growth in 2014 will not have a major impact on the government’s 2015 economic growth target while adding that if the revision stems from more accurate measurements that this will be helpful in gauging the state of the Chinese economy going forward. The Chinese government targets about a growth rate of 7% this year, which would be the slowest pace in 25 years.
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