China: Investment maintains momentum in July
August 9, 2012
In the first seven months of the year, urban fixed-asset investment excluding rural households (FAI) grew 20.4% over the same period last year. The figure mirrored the 20.4% expansion recorded in the first six months of the year but undershot the 20.6% increase expected by market analysts. Investment in the January-July period mainly reflected an acceleration in the services and the primary sectors, which offset slower growth in the industry category. Fixed investment continues to be buttressed by central government and local authorities in order to spur domestic growth amid weaker economic prospects overseas. Compared to the previous month, investment in urban fixed assets increased a seasonally adjusted 1.42% in July, which followed on a 1.71% rise recorded in June.