The report reads as follows:
- If you guessed yesterday that China’s investment growth is picking up, congrats! Official data confirms it. But it’s not all good news – jobs are taking a hit.
- Growth in China’s investment picks up thanks to infrastructure, property spending
- Despite a general sentiment of a gloomy employment outlook, the bureau said that the overall labor situation has “stabilized.” In China’s 31 major cities, the number was 5.0% last month, 0.3 percentage points higher than in December.
- Excluding investment by rural households, China’s fixed-asset investment a key driver of domestic demand that includes infrastructure grew 6.1% YOY in the first two months of 2019, edging up from a 5.9% rise in the whole year of 2018, according to official data released Thursday. The reading met the median forecast from a Bloomberg News survey of economists.
- Government-driven infrastructure investment rose 4.3% YOY in the first two months, up from a 3.8% growth rate for 2018. Expansions in spending on roads and railways accelerated to double-digit rates during the period.