China: Investment rises faster than expected in November
December 11, 2010
In the January-November period, nominal urban fixed-asset investment increased 24.9% over the same period last year. The reading came in above the 24.3% growth expected by the market and represented an acceleration compared to the 24.4% increase recorded in the first ten months of the year. Based on the eleven-month growth rate published by the National Bureau of Statistics (NBS), urban fixed-asset investment expanded 29.1% in November over the same month last year, which represented a solid improvement from the previous month's reading of 23.7%. Investment in real estate led the way, growing 36.5% in the year to November, which is the same rate of expansion recorded in the previous period. Consensus Forecast participants expect urban fixed-asset investment growth to slow to 25.1% this year. For 2011, the panel expects investment to decelerate further to 21.4%, which is down 0.4 percentage points from last month's estimate.