May was the slowest month in terms of capital expenditure this year for Greenfield investment projects, according to fDiMarkets.

Figures showed that project numbers were fairly stable, at 1,020 in May, down slightly from 1,038 in April.

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However in terms of capital expenditure, it was a far less encouraging story. Of the projects in May, only $22.71bn was invested, compared to $64.06bn in the previous month.

The new year got off to a good start with 1,181 projects recorded worth at total of $85.79bn in January alone. This level was nearly reached in February, but since then capital expenditure has decreased steadily each month, until it experienced its fastest slide in May.

The situation is arguably worse in terms of job creation. In May 2011 only 30,962 jobs were created, compared to an average of 221,614 jobs created each month from January to April.

Traditionally the slower months in FDI are August and December with many groups on holiday, however May is an early candidate for the slowest month of the year.