China: Investment growth falls to multi-decade low in September
October 18, 2017
In the first nine months of the year, urban fixed-asset investment excluding rural households expanded 7.5% annually, below the 7.8% rise in the January–August period and the lowest reading since 1999. The print undershot the 7.7% increase expected by market analysts. It reflected an across-the-board slowdown in the growth of the primary, secondary and tertiary sectors of the economy. Investment growth in the closely watched real estate development sector, however, accelerated slightly in September.
Analyzing January–September’s data from the ownership side, investment growth among state-owned and state-holding units, although strong, decelerated to the lowest level since May 2015. Activity among private companies also slowed in the same period.
A month-on-month comparison shows that investment in urban fixed assets rose a seasonally-adjusted 0.56% in September, slightly above the 0.54% increase in August.