China: Investment growth weakens further in October
November 9, 2013
In the first 10 months of the year, urban fixed-asset investment excluding rural households (FAI) rose 20.1% over the same period last year (September: +20.2% year-on-year). The figure came in slightly below market expectations of a 20.2% increase. The result mostly reflected the deceleration in the primary and services sectors, which offset stronger growth in industrial output.
A month-on-month comparison shows that investment in urban fixed assets rose a seasonally-adjusted 1.43% in October, overshooting the 1.34% increase tallied in September.
The government set a growth target of 18.0% for fixed-asset investment in 2013. FocusEconomics Consensus Forecast participants expect fixed-asset investment to grow 20.4% in 2013, which is unchanged from last month's Consensus. In 2014, the panel sees fixed-asset investment growing 20.1%, which is also unchanged from last month's projection.