China's economy slumps as investments plunge

FIXED-ASSET INVESTMENT FALLS RECORD 1.7% IN 10 MONTHS

- BLOOMBERG

CHINA'S ECONOMIC ACTIVITY cooled more than expected at the start of the fourth quarter, with an unprecedented slump in investment and slower growth in industrial output adding to a drag from sluggish consumption.

Fixed-asset investment shrank 1.7% in the first 10 months of the year, a record decline forthe period,according to data released by the National Bureau of Statistics on Friday. Bloomberg Economics estimates investment dropped as much as 12% in October, extending its streak of declines intoa fifth straight month.