She said several factors led to the downward revision, particularly the global economic slowdown.
Most experts had forecast a downward revision to 2.4 percent.
Most analysts had forecast a downward revision of 2.4 percent.
The downward revision reflects June's record trade deficit of $55.8 billion.
If the going wage rate was 'wrong', as it appeared to be, what stood in the way of its downward revision?
The ministry said it could not rule out a downward revision of the January data.
But by its count, 25 companies represent half of the downward revision.
Today's report represents a downward revision from an estimate last month of 11.5 percent.
"But I don't really expect any downward revisions in other major factors."
But up on the eighth floor, the downward revisions are over in a matter of minutes.