MNI BRIEF: China's Investment Dips Further To Over 5-Year Low

China’s fixed-asset investment growth fell further by 1.7% y/y in the first 10 months, expanding from the 0.5% fall in the Jan-Sep period and missing the -0.8% median forecast, also hitting the lowest level since Jun 2020, National Bureau of Statistics data showed Friday.

Property investment fell further by 14.7% in the first 10 months, the sharpest drop since Feb 2020, after a 13.9% decline in Jan-Sep. Infrastructure investment fell 0.1% while manufacturing investment grew 2.7%, compared with the previous 1.1% and 4.0% growth. 

Retail sales slowed for the fifth month, rising 2.9% y/y to hit the lowest level since Aug 2024, down from September's 3.0%, but beating the 2.8% forecast. Industrial output grew by 4.9% y/y, slowing from September's 6.5% and missing the 5.5% forecast, also marking the lowest reading in 14 months.