China: Investment growth inches down in November
December 10, 2013
In the first 11 months of the year, urban fixed-asset investment excluding rural households (FAI) rose 19.9% over the same period last year (October: +20.1% year-on-year). The figure was virtually in line with market expectations of a 20.0% increase. The result mostly reflected a deceleration in industrial output and in the services sector, which offset stronger growth in the primary sector.
A month-on-month comparison shows that investment in urban fixed assets rose a seasonally-adjusted 1.47% in November, exceeding the 1.42% increase tallied in October.
The government set a growth target of 18.0% for fixed-asset investment in 2013. FocusEconomics Consensus Forecast participants expect fixed-asset investment to grow 20.3% in 2013, which is down 0.1 percentage points from last month's Consensus. In 2014, the panel sees fixed-asset investment growing 19.6%, which is down 0.5 percentage points from last month's projection.