China Investment


China: Investment growth slows in September

October 18, 2013

In the first nine months of the year, urban fixed-asset investment excluding rural households (FAI) rose 20.2% over the same period last year (August: +20.3% year-on-year). The figure came in slightly below market expectations of a 20.3% increase. The result mostly reflected how a deceleration in the primary and services sectors offset stronger growth in industrial output.

A month-on-month comparison shows that investment in urban fixed assets rose a seasonally-adjusted 1.28% in September - the lowest growth rate in 13 months - , undershooting the 1.68% increase tallied in August.

The government set a growth target of 18.0% for fixed-asset investment in 2013. FocusEconomics Consensus Forecast participants expect fixed-asset investment to grow 20.3% in 2013, which is unchanged from last month's Consensus. In 2014, the panel sees fixed-asset investment growing 19.8%, which is also unchanged from last month's projection.


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China Investment Chart

China Investment September 2013

Note: Month-on-month changes of seasonally adjusted urban fixed-asset investment index and annual growth rate (year-to-date) in %. Owing to seasonal factors related to the Lunar New Year, annual figures in January and February are reported together.
Source: National Bureau of Statistics of China (NBS).

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