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China Revises 2006 Economic Growth Figures; Fastest Since 1994

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.

July 12th, 2007

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