(Bloomberg) -- Flooding in China’s northern Hebei provincehas killed 114 people and led to direct losses of 16.4 billion yuan($2.5 billion) to the economy, according to the latest statementfrom the local government.

At least 308,900 people have been evacuated and 111 are missing,according to the statement released late Saturday. About 53,000houses have collapsed from the floods and 30,000 hectares of crophave been destroyed, the Hebei government said.

Separately, the Xinhua News Agency Sunday reportedthat four officials have been suspended for what it said wasinadequate handling of the crisis. They are currently being beinginvestigated, the state-run agency said, adding that Beijing hassent in state councilor Wang Yong to oversee disaster relief andrelocation work.

Worst flooding since 1998

China’s worst flooding since 1998 may cut third-quarter economicgrowth by as much as 0.2 percentage points, according to aBloomberg survey of economists. Gross domestic product expanded 6.7percent in the three months through June, matching first-quartergrowth that was the slowest since 2009.

The biggest drag in the third quarter will be from agriculturaloutput, according to more than half of the 15 economists in thesurvey. Almost all said construction and infrastructure will getthe biggest lift in the fourth quarter amid rebuilding efforts.

Related: 8 ways to mitigate flooding risks

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