China: Investment growth gains steam at the end of the year
January 17, 2020
Nominal urban fixed asset investment expanded 5.4% year-to-date in December, which was above the 5.2% rise in the January-November period. The print exceeded the 5.2% increase that market analysts had expected and represented the strongest reading in three months.
The reading reflected a rebound in the primary sector and faster growth in the secondary sector. Conversely, growth in the tertiary sector moderated. Meanwhile, property investment growth slowed slightly to 9.9%, the lowest rate since the start of the year. In terms of ownership, investment growth in fixed assets of state-owned enterprises decelerated slightly in January-December, while the expansion in investment among private companies accelerated in the same period.
On a month-on-month basis, investment in urban fixed assets rose a seasonally-adjusted 0.44% in December, marginally up from the 0.44% expansion in November.