China yesterday revised its 2006 gross domestic product growth to 11.1% from 10.7%, the fastest yearly growth the country has seen since 1994.
In a statement, the National Bureau of Statistics said the upward revision was due to greater output by the industrial and service sectors than was initially estimated.
It did not give a revised growth figure for the services sector, but it did say that the industrial sector had grown by 13% percent in 2006, compared with an initial estimate of 12.5%.
Overall Gross Domestic Product reached $2.79 trillion for 2006. Standard practice means there will be one more revision.
More on this topic
(What's this?)
Capitalize on China’s Growth with these dividend stocks
(Dividend Growth Investor, 3/10/10)
Jim Chanos Is Wrong About Investing in China
(Investment U, 3/3/10)
Thinking the Unthinkable: What if China Devalues the Renminbi?
(naked capitalism, 2/18/10)
China to launch its own space station
(China and Asia Stock Alert - Glo..., 3/3/10)
Click here for audio and video featuring your favorite Money Morning contributors.
RSS