China: Investment growth stable in January–November
Nominal urban fixed asset investment expanded 5.2% year-to-date in November. The result was in line with both the figure that market analysts had expected and the reading in October. Moreover, the print stabilized at the lowest print since the data started in 1998.
The reading reflected a slowdown in growth in the tertiary sector, which was compensated by a stronger expansion in the secondary sector and a softer contraction in the primary sector. Meanwhile, property investment growth slowed slightly to 10.2%, the lowest rate since the start of the year. In terms of ownership, investment growth in fixed assets of state-owned enterprises decelerated in January-November, while the expansion in investment among private companies accelerated slightly in the same period.
On a month-on-month basis, investment in urban fixed assets rose a seasonally-adjusted 0.42% in November, marginally up from the 0.40% expansion in October.