China: Investment growth moderates in January–August
Urban fixed asset investment expanded 5.5% year-to-date in August, below the 5.7% increase in January–July and market expectations of a 5.7% increase.
The result reflected a stronger contraction in the primary sector and a slowdown in investment in the secondary sector. Conversely, investment growth in the tertiary sector accelerated in the same period. Meanwhile, property investment growth slowed to an eight-month low.
In terms of ownership, investment growth in fixed assets of state-owned enterprises was stable but, conversely, decelerated among private companies in January–August.
On a month-on-month basis, investment in urban fixed assets rose a seasonally-adjusted 0.40% in August, marginally down from the 0.41% expansion in July.