If you want better GDP, change how you calculate it - China revises GDP

China has changed the way it calculates GDP and guess how that played out in its revisions?

• 2012 GDP revised to 7.9% from 7.7%

• 2013 GDP 7.8% vs 7.7% prior

• 2014 7.3% vs 7.2% prior

• 2015 6.9% vs 6.8% prior

China says the changes mainly reflect the contributions of R&D spending.