China Investment


Investment remains buoyant in October

In the first ten months of the year, nominal urban fixed-asset investment increased 24.4% over the same period last year. The reading was a notch below the 24.5% figure tallied in the year to September, but matched market expectations. Based on the ten-month growth rate published by the National Statistical Office (NBS), urban fixed-asset investment expanded 23.7% over the same month last year in October, which represented an improvement from the previous month's 23.2% reading. That said, as producer prices for manufactured goods have been rising rapidly in the recent months, the slight acceleration compared to the previous month in nominal terms could be interpreted as a flat real growth. Consensus Forecast participants expect urban fixed-asset investment growth to slow to 25.1% this year, which is unchanged from last month's estimate. For 2011, the panel expects investment to decelerate further to 21.8%.

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