China: Investment growth slows in January–April
May 15, 2019
Urban fixed asset investment expanded 6.1% year-to-date in April, below the 6.3% increase in January–March. Moreover, the figure undershot the 6.4% increase expected by market analysts.
The result reflected a contraction in the primary sector as well as softer growth in the secondary sector. Conversely, the tertiary sector expanded at a faster pace compared to the previous month. Moreover, property investment growth hit an over four-year high, suggesting that policy stimulus is gradually kicking in.
In terms of ownership, investment growth in fixed assets of state-owned enterprises accelerated, while that of private companies lost steam.
On a month-on-month basis, investment in urban fixed assets rose a seasonally-adjusted 0.45% in April, which was marginally down than the 0.47% expansion in March.