China’s fixed asset investments growth picked up in October
9 November, 2012, 14:27. Posted by Zarathustra
China’s fixed asset investments growth continued to pick up in October.
Headline year-to-date year-on-year fixed asset investments accelerated from 20.% to 20.7% in nominal term, better than market estimate of 20.6%. For October alone, we estimate that growth has actually slowed from 23.1% yoy to 22.4% yoy.
On a seasonally adjusted month-on-month basis, growth accelerated to 1.94%, up from the revised figure of 1.82% (revised from 1.63%).
Source: National Bureau of Statistics
Infrastructure related investment growth continues to pick up in October, while investment in manufacturing sector continues to be sluggish. The chart below shows the three-month average of year-on-year (non-accumulative) growth of three major sectors of fixed asset investments, which collectively account for about 80% of total fixed asset investment. Infrastructure is clearly the big driver.
Source: National Bureau of Statistics
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About Zarathustra
Zarathustra: Founder and Managing Editor of Also sprach Analyst. Once an analyst, now an investor and entrepreneur. Based in Hong Kong, but Londoner at heart.