China's fixed-asset investment increased by 5.9 percent from a year earlier in January to November 2018, compared to a 5.7 percent rise in the first ten months of the year and beating market expectations of 5.8 percent. Public-sector fixed-asset investment growth picked up to 2.3 percent from 1.8 percent in January-October, while private-sector fixed-asset investment rose at a softer 8.7 percent, compared to 8.8 percent. By sector, investment growth accelerated for both manufacturing (9.5 percent vs 9.1 percent) and water conservancy, environment and public facilities management (2.4 percent vs 2.1 percent). Meantime, fixed investment growth slowed for: agriculture, forestry, animal husbandry, and fishery (11.4 percent vs 12.1 percent); transport, storage and postal industry (4.5 percent vs 4.6 percent); and mining (8.6 percent vs 9.4 percent). Spending on power continued to fall (-8.8 percent vs -9.6 percent). Fixed Asset Investment in China averaged 20 percent from 1996 until 2018, reaching an all time high of 53 percent in February of 2004 and a record low of 5.30 percent in August of 2018.
Fixed Asset Investment in China is expected to be 6.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Fixed Asset Investment in China to stand at 5.76 in 12 months time. In the long-term, the China Fixed Asset Investment is projected to trend around 6.20 percent in 2020, according to our econometric models.