China: Growth in investment falls to five-month in May
June 14, 2017
In the first five months of the year, urban fixed-asset investment (FAI), excluding rural households, expanded 8.6% annually, which was below the 8.9% increase in the January-April period. The print undershot the 8.8% increase expected by market analysts and represented the lowest print in five months. The deceleration in the January-May period was the result of weaker performances in the primary and tertiary sectors. Conversely, investments in the secondary sector strengthened in the same period. Although investments in the closely-watched real estate development sector weakened, it still recorded double-digit growth.
Analyzing data from the ownership side, investment growth among state-owned and state-holding units and in the private sector softened in the January-May period.
A month-on-month comparison shows that investment in urban fixed assets rose a seasonally-adjusted 0.72% in May, slightly below the 0.75% increase in April.