China: Investment growth falls to lowest level in over 11 years
March 13, 2014
In the January-February period, urban fixed-asset investment excluding rural households (FAI) rose 17.9% over the same period last year, which was below the 19.6% increase recorded in the full year 2013. The growth rate undershot the 19.4% increase that market analysts had expected and represented the weakest gain in investment since December 2002. The deceleration resulted from an across-the-board deterioration in investment activity with the sharpest slowdowns in the primary and the industry sectors. A month-on-month comparison shows that investment in urban fixed assets rose a seasonally-adjusted 1.33% in February, which was broadly unchanged from the 1.35% increase tallied in January. The government set a growth target of 17.5% for urban fixed-asset investment this year. FocusEconomics Consensus Forecast participants expect fixed-asset investment to grow 19.5% in 2014, which is unchanged from last month's Consensus. In 2015, the panel sees fixed-asset investment growing 18.8%.