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 SIC, China’s State Information Center.
The report includes an overview of the Chinese economy and a review and forecast of China’s heavy- and medium-duty commercial vehicle market, as well as analysis of OEM market shares within China.
Overall, China’s GDP grew at 7.6 per cent, 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 & 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 – pointing out that especially the heavy truck production was down in the last quarter.