NBS: China revises 2016 GDP slightly lower, keeps 6.7% growth unchanged

China’s National Bureau of Statistics (NBS) said in a statement on Friday that it revised the final 2016 GDP to 74.36 trillion Yuan ($11.47 trillion), down 54.2 billion Yuan from the preliminary number.

Key Points via Reuters:

“The 2016 growth rate of the world’s second-biggest economy remains unchanged at 6.7 percent.

Final data from the bureau shows the services sector grew 7.7 percent in 2016 to 38.3 trillion Yuan. The sector, which accounts for half of China’s GDP, expanded 7.8 percent in the bureau’s initial estimate to 38.4 trillion Yuan.

The revisions were mainly due to small cuts in the bureau’s estimates for the size of the financial and tech sectors, which grew 4.5 percent and 18.1 percent in the final numbers, respectively, down from 5.7 percent and 22.2 percent in the earlier data release.

Growth estimates for manufacturing, agriculture, construction and real estate remain unchanged.”