The Center is not just any center, it is a unit of the powerful National Development and Reform Commission, China’s top economic planning agency. The anemic looking growth –power of a big base – will nonetheless lift China’s automobile sales above 19 million, a level no country has seen on this planet.
“The third quarter may be better than the second as September and October are traditionally hot seasons for auto sales but I don’t expect a big improvement,” the center’s Research Director Xu Changming Xu said. Xu’s forecast jibes with the estimates of the China Association of Automobile Manufacturers CAAM which had revised its outlook to about 5 percent in July.
Worried about inflationary tendencies, the Chinese government is pushing the brake pedal after accelerating growth the last two years.
No comments:
Post a Comment