China: Nominal fixed investment records softest fall in 6-months in January–June
Nominal urban fixed asset investment declined 3.1% in the first six months of the year (January–May: -6.3% year-on-year). The figure marked the smallest drop since December 2019 and was above the 3.3% contraction that market analysts had expected.
June’s improvement was broad-based, with both the secondary and tertiary sectors posting weaker declines. Moreover, growth in the primary sector accelerated in the same period. In terms of ownership, investment in fixed assets of state-owned enterprises rebounded in the January–June period, while investment among private companies continued to decline.
On a monthly basis, rose 5.9% in seasonally-adjusted terms in June, which was slightly below May’s 6.0% expansion.