China Investment


Investment growth inches down in November

In the first 11 months of the year, urban fixed-asset investment excluding rural households (FAI) rose 19.9% over the same period last year (October: +20.1% year-on-year). The figure was virtually in line with market expectations of a 20.0% increase. The result mostly reflected a deceleration in industrial output and in the services sector, which offset stronger growth in the primary sector.

A month-on-month comparison shows that investment in urban fixed assets rose a seasonally-adjusted 1.47% in November, exceeding the 1.42% increase tallied in October.

The government set a growth target of 18.0% for fixed-asset investment in 2013. FocusEconomics Consensus Forecast participants expect fixed-asset investment to grow 20.3% in 2013, which is down 0.1 percentage points from last month's Consensus. In 2014, the panel sees fixed-asset investment growing 19.6%, which is down 0.5 percentage points from last month's projection.

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China Investment Chart

China Investment November 2013

Note: Month-on-month changes of seasonally adjusted urban fixed-asset investment index and annual growth rate (year-to-date) in %. Owing to seasonal factors related to the Lunar New Year, annual figures in January and February are reported together.
Source: National Bureau of Statistics of China (NBS).

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