China: Investment growth continues to moderate in March
April 15, 2015
In the first three months of the year, urban fixed-asset investment excluding rural households (FAI) expanded 13.5% over the same period last year, which was below the 13.9% increase recorded in the January-February period. The reading represented the weakest expansion in investment since 2000 and undershot the 13.9% increase that market analysts had expected. The deceleration mainly resulted from weaker growth in the primary and the secondary sectors. Moreover, investment in the tertiary sector decelerated marginally in the same month. In addition, the closely-watched real estate development indicator moderated again in the January-March period, reaching the lowest annual growth since June 2009.
A month-on-month comparison shows that investment in urban fixed assets rose a seasonally-adjusted 1.04% in March, which was broadly unchanged from the 1.03% increase tallied in February.