According to the NBS, the revision was caused by the slower pace of expansion in the services sector as its growth has been downgraded by 0.3% to 7.8% from the originally awarded 8.1%.
The services sector accounted for 48.1% of GDP in 2014 after the revision, downgraded from the initially reported 48.2%, the NBS said. The manufacturing and construction sector accounted for 42.7% of GDP and the agriculture sector accounted for 9.2%.
Markets believe that this 0.1% revision isn't a big deal, however it definitely adds to the persisting negative sentiment around China’s economy. The fresh revision, thus, underscores a continuing economic slowdown in China and makes reaching the 7% growth target for 2015 less likely.
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