China: Nominal fixed investment growth slows in March
April 16, 2021
Nominal urban fixed asset investment increased 25.6% in year-to-date terms in March, which was a deterioration from February's 35.0% increase. March's slowdown came on the back of decelerating tertiary and secondary sectors.
On a monthly basis, nominal urban fixed asset investment grew 1.5% in seasonally-adjusted terms in March, which matched February’s expansion and marked the joint-best result since August 2020.
Fixed investment should continue to be robust this year, despite slowing in year-on-year terms from Q1 as the base effect grows less favorable, aided by the government’s push to strengthen the domestic market and develop high-end manufacturing under its Dual Circulation strategy.