China: Investment growth slows again in January–May
Urban fixed asset investment expanded 5.6% year-to-date in May, below the 6.1% increase in January–April. Moreover, the figure undershot the 6.1% increase expected by market analysts.
The result reflected a deeper contraction in the primary sector as well as softer growth in the tertiary sector. Conversely, the secondary sector expanded at a faster pace compared to the previous month. Moreover, property investment growth receded from April’s nearly four-year high.
In terms of ownership, investment growth in fixed assets of both state-owned enterprises and private companies decelerated in May.
On a month-on-month basis, investment in urban fixed assets rose a seasonally-adjusted 0.41% in May, marginally down compared to the 0.42% expansion in April.