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.