China's foreign direct investment inflows slide 6.8%
This is in conflict with positive macro readings.
According to BBVA Research, in China, FDI inflows decreased by -6.8% y/y in September, while total FDI inflows in Q3 further declined by -5.6% y/y from -3.0% y/y in the first half of 2012, as direct investment from the EU remained weak.
"While today’s data outturn was partially due to a base effect, it also indicated that external uncertainties are dampening investment in the world’s second largest economy. Today’s data was also at odds with the recent positive macro readings that signaled China’s growth momentum has bottomed out, and also conflicted with the recent appreciation of the RMB," BBVA Research noted.