China: Investment records weakest expansion in over a decade in 2013
January 20, 2014
In the full year 2013, urban fixed-asset investment excluding rural households (FAI) rose 19.6% over the same period of the previous year. The growth rate was below the 20.6% tallied in 2012. The print marked the lowest print since 2002 and slightly undershot market expectations of a 19.8% increase. The deceleration seen over the course of 2013 reflects weaker growth in industry, which was partially offset by stronger growth in the primary and the services sectors.
A month-on-month comparison shows that investment in urban fixed assets rose a seasonally-adjusted 1.41% in December, which matched the result tallied in November.
FocusEconomics Consensus Forecast participants expect fixed-asset investment to grow 19.7% in 2014, which is unchanged from last month's Consensus. In 2015, the panel sees fixed-asset investment growing 18.8%.