China: Nominal fixed investment growth loses pace in March
Nominal urban fixed asset investment grew 9.3% in year-to-date terms in March, which followed January–February’s 12.2% increase. March’s notable slowdown was driven by easing activity growth in the primary, secondary and tertiary sectors. Of the three sectors, secondary activity has recorded by far the fastest growth so far this year, spurred by a large government-led infrastructure push aimed at counteracting the Covid-19 led economic downturn.
On a monthly basis, nominal urban fixed asset investment rose 0.6% in seasonally-adjusted terms in March, which was below February’s 0.7% expansion.