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China: Investment growth inches up in June

July 16, 2014

In the January–June period, urban fixed-asset investment excluding rural households (FAI) rose 17.3% over the same period last year, which was a notch above the 17.2% increase recorded in the first five months of the year. The previous month’s reading had represented the weakest expansion in investment since December 2001. The slight acceleration observed in June, which overshot the 17.2% increase that the market had expected, resulted from faster growth in both the primary and the secondary sectors, while investment in the tertiary sector did not change compared to May.

A month-on-month comparison shows that investment in urban fixed assets rose a seasonally-adjusted 1.45% in June, which was above the 1.37% increase tallied in May.

The government set a growth target of 17.5% for urban fixed-asset investment for this year. FocusEconomics Consensus Forecast participants expect fixed-asset investment to grow 18.1% in 2014, which is unchanged from last month’s Consensus. In 2015, the panel sees fixed-asset investment growing 17.6%.


Author: Ricard Torné, Head of Economic Research

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China Investment June 2014

Note: Month-on-month changes of seasonally adjusted urban fixed-asset investment index and annual growth rate (year-to-date) in %. Owing to seasonal factors related to the Lunar New Year, annual figures in January and February are reported together.
Source: National Bureau of Statistics of China (NBS).


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