China: Investment moderates marginally in September
October 18, 2011
In the nine months to September, urban fixed-asset investment excluding rural households (FAI) climbed 24.9% over the same period last year, which was slightly below the 25.0% expansion observed in the January-August period but, nevertheless, overshot market expectations of a 24.8% rise. The urban fixed-asset investment has moderated for the last four months and, in fact, the January-September period represented its slowest increase since the beginning of this year. The moderation in growth was mainly driven by a weaker expansion in industry, while services and the primary sector recorded gains. Seasonally adjusted data corroborate the slowdown suggested by the annual figures, with investment in urban fixed-assets contracting 0.16% in September, which contrasted the 1.45% expansion seen in August.