Fixed-asset investment in China’s economy slows
Figures dipped slightly from January to November, compared with levels over the first 10 months of the year, according to official data
China’s fixed-asset investment growth slowed to 7.2 per cent in the January-November period, while industrial output expanded at a faster pace than markets had expected.
Analysts polled by Reuters had correctly predicted investment growth of 7.2 per cent, cooling from the 7.3 per cent rate from January to October.
Private sector fixed-asset investment rose 5.7 per cent in January to November, down from the first 10 months of the year.
Industrial output rose 6.1 per cent in November from a year earlier, the National Bureau of Statistics said on Thursday, surpassing analysts’ estimates for a rise of six per cent. In October, output increased 6.2 per cent.
Retail sales gained 10.2 per cent in November on-year, in line with expectations, but slightly ahead of the prior month.
The world’s second-biggest economy has defied market expectations with economic growth of 6.9 per cent in the first nine months of the year, supported by a construction boom and robust exports.
But factory activity has shown signs of cooling in the past few months as Beijing extended a crackdown on financial risks, which has increased borrowing costs and weighed on new investment.