China revises first quarter GDP growth

China revises first quarter GDP growth

China's National Bureau of Statistics (NBS) disclosed that the country's gross domestic product (GDP) grew 9.4% year on year during the first quarter of 2005. Weaker-than-expected industrial output promoted the bureau to revise initial estimates of 9.5% growth. Further revisions to earlier numbers saw growth in secondary industries fall from 11.3% to 11.1% due to poor industrial output growth. The NBS, however, raised the output of tertiary industries from 7.6% to 7.7% due to strong growth in the transportation and telecommunication sectors. China's GDP grew 9.5% in 2004 thanks to rapid growth in investment in fixed assets such as power plants and factories.