China: Investment slows in March
April 15, 2013
In the first three months of the year, urban fixed-asset investment excluding rural households (FAI) rose 20.9% over the same period last year. The print came in below the 21.2% increase seen in the previous month, which had represented the strongest expansion recorded in one year, but matched the result anticipated by FocusEconomics panellists last month.
Investment in the January-March period mainly reflected how slower growth in the primary and services categories offset an acceleration in the industrial sector.
In March, investment in urban fixed assets increased a seasonally adjusted 1.59% over the previous month, which more than doubled the 0.73% rise seen in February.
The government has set a growth target of 18.0% for fixed-asset investment in 2013. FocusEconomics Consensus Forecast participants expect fixed-asset investment to rise 21.1% in 2013, which is up 0.2 percentage points from last month's Consensus. In 2014, the panel sees fixed-asset investment growing 20.3%.