China's GDP decelerated to 7.4% in Q3, the slowest pace 2009, 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's economy and a review and forecast of the country's heavy- and medium-duty truck and bus markets, as well as analysis of OEM market shares within China.
"Domestic factors as well as the European debt crisis continued to exert a negative influence on China's GDP," said Frank Maly, director of commercial vehicle transportation analysis & research at ACT. "China's real estate investment slowed, leading to a rapid decline in overall investment growth," he added.
Domestic sales of Chinese heavy-duty trucks continued downward in Q3. Bus market sales also took a turn for the worse after the bright 4.7% year-over-year sales recorded last quarter. China's GDP growth is expected to remain in the 8% to 9% range through 2017.
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.