China’s fixed asset investment growth softened slightly in May 20129 June, 2012, 14:11. Posted by Zarathustra
China’s fixed asset investment (excluding rural) growth for May was slightly higher than consensus forecast.
Year-to-date fixed asset investment increased by 20.1% compared to the same period a year ago in nominal term, very slightly above the consensus estimate of 20.0%, but down from 20.2% yoy in April. Of which, growth in investment by state-owned enterprises have picked up from growth in high single-digit rate for 3 months to 10.0% yoy.
Meanwhile, growth in real estate investment continues to soften. Real estate investment YTD increased by 18.5% compared to the same period a year ago, down from 18.7% yoy.