China GDP Decelerates in 2nd Quarter; Bus Market Still Strong
October 10, 2012
China's GDP decelerated more than expected in the second quarter of 2012, according to the most recent China Commercial Vehicle Outlook, jointly published quarterly by ACT and China's State Information Center.
The report includes an overview of the China economy and a review and forecast of China's heavy- and medium-duty truck and bus markets, as well as analysis of OEM market shares within China.
China's GDP grew at 7.6%, the slowest pace since early 2009.
"Domestic factors as well as the European debt crisis had a negative influence on China's GDP," said Frank Maly, director of commercial vehicle transportation analysis and research at ACT. "China's real estate investment slowed, leading to a rapid decline in overall investment growth.
"Also, regulations and stimulus policies were allowed to expire, pending the upcoming 10-year leadership change scheduled next March. The European debt crisis and RMB appreciation brought a continued pullback in exports," he added.
While heavy truck production was down, the bus market remained strong, bolstered by holiday travel demands and an increase in income that grew passenger traffic during the first quarter.
SIC is affiliated with the National Development and Reform Commission of China and is engaged in research on the macro-economy, key industries and information technology.
For more information on ACT and the China Commercial Vehicle Outlook report, please visit http://www.actresearch.net