The pace of China’s economy rose slightly in the second quarter of 2014, according to the most recent China Commercial Vehicle Outlook, jointly published quarterly by ACT and SIC, China’s State Information Center. It 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.
“We expect that China will maintain economic growth in the 7.5% range in the short to intermediate term,” said Frank Maly, director of commercial vehicle transportation analysis and research at ACT. “Inflationary pressure will remain low. The resulting impact will be a softening in commercial vehicle demand in 2014, with 2015 continuing at a similar volume level.”
For perspective, full-year 2013 real GDP growth was 7.7%, down slightly from 7.8% in 2012, 9.3% in 2011 and 10.4% in 2010.
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.
ACT is a worldwide leading publisher of new and used commercial vehicle industry data, market analysis and forecasting services for the North American market, as well as the U.S. tractor-trailer market and the China commercial vehicle market. For more information on ACT and the China Commercial Vehicle Outlook report, please visit http://www.actresearch.net.