China: Investment picks up in August
September 10, 2013
In the first eight months of the year, urban fixed-asset investment excluding rural households (FAI) rose 20.3% over the same period last year. The figure came in slightly above the 20.1% increase tallied in the previous month and was virtually equal to the 20.2% expansion the market had expected. The result mostly reflects that an acceleration in industrial output offset weaker growth in the primary and services categories.
A month-on-month comparison shows that investment in urban fixed assets rose a seasonally-adjusted 1.61% over the previous month in August, which was above the 1.57% increase tallied in July.
The government set a growth target of 18.0% for fixed-asset investment in 2013. FocusEconomics Consensus Forecast participants expect fixed-asset investment to rise 21.1% in 2013, which is down 0.2 percentage points from last month's Consensus. In 2014, the panel sees fixed-asset investment growing 19.8%.