(MENAFN- FxPro) China's National Bureau of Statistics on Wednesday defended its estimates of Gross Domestic Product as it showed an higher than expected 7% annualized gain in the second quarter.
Spokesman Sheng Laiyun said at a quarterly briefing that this is part of a debate about the quality of the data related to the use, or not, of a deflator estimate. China did not publish such an estimate Wednesday.
But Sheng said falling import prices are fully taken into consideration when calculating GDP using the output approach.
"This factor was included in the calculation and there is no issue that the deflator is being underestimated and, therefore, GDP isn't overestimated," Sheng said, according to press reports.
Many analysts said that the GDP figure however should have been lower along with industrial-output growth because very poor coal-consumption data from large power plants suggested a decline in electricity production and, therefore, industrial production.
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