China: Investment growth declines to nearly 13-year low in October
November 13, 2014
In the January–October period, urban fixed-asset investment excluding rural households (FAI) rose 15.9% over the same period last year, which was just below the 16.1% increase recorded in the first nine months of the year. The reading represented the weakest expansion in investment since December 2001 and slightly undershot the 16.0% increase that the market had expected. The deceleration mainly resulted from weaker growth in the secondary sector. Investment in the tertiary sector stabilized, while growth in the primary sector accelerated to a 10-month high. In addition, the closely-watched real estate development indicator slowed further, reaching the lowest result since July 2009.
A month-on-month comparison shows that investment in urban fixed assets jumped a seasonally-adjusted 1.64% in October, which was well above the 0.76% increase tallied in September.