China: Investment growth accelerates to four-month high in October
Urban fixed asset investment expanded 5.7% annually in the first 10 months of the year, up from the 5.4% increase in the first 9 months of the year. Moreover, the figure was above market expectations of 5.5% growth.
The uptick in fixed asset investment growth was primarily the result of healthy accelerations in the primary and secondary sectors. Furthermore, investment in the tertiary sector also accelerated, albeit modestly. Meanwhile, investment growth in the real estate sector decelerated to a four-month low in the January–October period.
In terms of ownership, investment growth in fixed assets of both private companies and state-owned enterprises accelerated.
On a month-on-month basis, investment in urban fixed assets rose a seasonally-adjusted 0.44% in October, which was largely unchanged from September’s 0.43% expansion.