China Investment August 2017

China

China: Investment growth slows slightly in August

September 14, 2017

In the first eight months of the year, urban fixed-asset investment excluding rural households expanded 7.8% annually, below the 8.3% rise in the January–July period. The print undershot the 8.2% increase expected by market analysts. It reflected an across-the-board slowdown in the growth of the primary, secondary and tertiary sectors of the economy. Investment growth in the closely watched real estate development sector remained unchanged in August.

Analyzing January–August’s data from the ownership side, investment growth among state-owned and state-holding units, although strong, decelerated to the lowest level since May 2015. Activity among private companies also slowed in the same period.

A month-on-month comparison shows that investment in urban fixed assets rose a seasonally-adjusted 0.57% in August, slightly below the 0.60% increase in July.

The government set a growth target of 9.0% for urban fixed-asset investment for 2017. FocusEconomics Consensus Forecast panelists expect fixed-asset investment to grow 8.6% in 2017. In 2018, the panel sees fixed-asset investment growth at 7.9%, which is down 0.2 percentage points from last month’s Consensus Forecast.


Author:, Economist

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China Investment August 2017

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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