China Fixed Investment Grows Less than Expected

China’s fixed-asset investment rose by 3.6% year-on-year from January to July 2024, compared with market forecasts and growth figures in the prior period of 3.9%.

Investment activity in the secondary sector sustained (12.5% vs 12.6% in January to June), helped by increases in mining (19.3%), manufacturing (9.3%), and electricity, heat, gas and water production and supply (23.8%).

Also, investments in the primary sector rose further (3.3% vs 3.1%).

On the other hand, investments in the tertiary industry fell further (-0.7% vs -0.2%).

In the meantime, investment in real estate contracted by an annual 10.2% during the first seven months of the year, compared with a drop of 10.1% in the preceding period.

Monthly, fixed investment fell 0.17% in July, after a 0.2% gain in June.