China: Investment growth remains flat in October
November 9, 2011
In the ten months to October, urban fixed-asset investment excluding rural households (FAI) grew 24.9% over the same period last year, which was unchanged from the previous month's reading but overshot market expectations of a 24.7% rise. Urban fixed-asset investment growth remained unchanged in October as a modest decline in services growth was offset by a strong rise in the primary sector. Meanwhile, investment in the industrial sector grew at the same pace as in the previous month. Seasonally adjusted data do not corroborate the moderation in momentum suggested by the annual figures, with investment in urban fixed assets expanding 1.34% in October, which came in well above the 0.19% increase seen in September.