China revises 2007 GDP estimate up

China’s statistics bureau raised its estimate for 2007 GDP growth to 11.9% from 11.4%, the South China Morning Post reported. The National Bureau of Statistics said 2007 GDP totaled US$3.56 trillion based on current prices, up US$41.63 billion from its original estimate. The service sector grew faster than expected at 12.6% last year, compared to an initial estimate of 11.4%. Last year’s economic expansion was China’s fastest since 1994 and brings China closer to surpassing Germany as the world’s third-largest economy. The NBS also raised its estimate of 2006 GDP growth to 11.6% from 11.1%. The statistics bureau is scheduled to release first quarter GDP figures on April 17.