China Investment November 2017


China: Investment growth moderates further in November

December 14, 2017

In the first eleven months of the year, urban fixed-asset investment excluding rural households expanded 7.2% annually, below the 7.3% rise in the January–October period and the lowest reading since 1999. The print matched the result expected by market analysts. It reflected slowdowns in the primary and secondary sectors, while the tertiary sector of the economy expanded at faster rate. Investment growth in the closely watched real estate development sector decelerated in November.

Analyzing January–November’s data from the ownership side, investment growth among state-owned and state-holding units accelerated slightly. Activity among private companies cooled in the same period.

A month-on-month comparison shows that investment in urban fixed assets rose a seasonally-adjusted 0.53% in November, slightly below the 0.51% increase in October.

FocusEconomics Consensus Forecast participants expect fixed-asset investment to grow 7.8% in 2018, which is down 0.1 percentage points from last month’s Consensus. In 2019, the panel sees fixed-asset investment growth at 7.4%.

Author: Ricard Torné, Lead Economist

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China Investment November 2017 0

Note: Month-on-month changes of seasonally adjusted urban fixed-asset investment index and annual growth rate (year-to-date) in %.
Source: National Bureau of Statistics of China (NBS).

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