China Revises GDP by $308.8 Billion

China revised the size of the economy by $308.8 billion, adding almost the entire output of Malaysia.

The gross domestic product of the world’s second-largest economy was 58.8 trillion yuan in 2013, according to the results of a nationwide economic census announced today. That’s 3.4 percent larger than the previously reported figure. Malaysia’s 2013 GDP was $312 billion.

The size of the revision was smaller than the last time China performed the calculation, in 2008, reflecting more accurate counting of a rapidly expanding services industry. The larger GDP makes China’s debt look smaller by comparison, which may give policy makers more room to maneuver as they seek ways to bolster growth set to be the lowest since 1990 this year.

Bloomberg

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