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China: November investment data is not all bad news
Tue, Dec 16 2008, 10:35 GMT
by Flemming J. Nielsen
Danske Bank A/S | View company's profile
The urban Fixed Asset Investment data (FAI), released for November, reflected not all bad news. On the one hand, there is still considerable weakness within real estate. On the other hand, there are signs that the government's fiscal easing is starting to have an impact.
Details: The FAI data are reported as year-to-date (YTD) numbers. In November growth in FAI, broadly in line with expectations, slowed slightly to 26.8% YTD y/y (Consensus: 26.9%) from 27.2% YTD y/y in the previous. Based on our own calculation of monthly figures growth in FAI slowed slightly to 23.8% y/y from 24.4% y/y in the previous month. Overall, the level of FAI has been flat since March 2008 (see chart 1).
Published on
Tue, Dec 16 2008, 10:37 GMT
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