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2.5 India
Reported by Rakesh Kumar, Technical Editor, ISHRAE Journal Economic Environment According to World Bank data, India’s GDP growth in 2015 was 7.3%, higher than any major world economy with the exception of China. The growth forecast for 2016 is 7.6-7.8%, which could be higher than all major world.../images/up/News/2016112323383072319.jpg
2.4.7 Spain
No longer to be seen as a failing economy Spain recorded growth in GDP of 3.2% in 2015. Construction output will finally become positive at a 4.3% growth in 2016 after years of recession. This is good news for the central plant market which is largely dependent on new construction. EU Directives ...
2.4.6 Turkey
In spite of the political turmoil and recent international tensions, the economic outlook still looks good with rising GDP expected for the next few years. Government plans for wide scale construction and infrastructure projects are still on course, although the timing has been set back by the two e.../images/up/News/201611232332017408.jpg
2.4.5 France
The current economic outlook is positive with growth in GDP at 1.1% in 2015 and 1.5% in 2016. Construction activity will also be reestablished in 2016. The total chiller market in 2015 was estimated at US$ 125 million and will be relatively unchanged in 2016. In terms of numbers this corresponds .../images/up/News/2016112323292835632.jpg
2.4.4 Russia
The country’s economy is under at-tack from sanctions, devaluation of the currency (by over 50% since July 2014) and the slowdown in global oil prices. Another factor has been the weakness in domestic demand. The construction industry continues to be in recession. The most optimistic forecasts put a.../images/up/News/2016112323272351169.jpg
2.4.3 Italy
The country’s economy has begun to recover from its negative growth in 2014 by gaining 0.7 % in GDP in 2015 (estimated by the OECD). Other sources forecast a doubling of this rate in 2016. The construction industry is being driven mainly by refurbishment. The total market in 2015 for central plan.../images/up/News/2016112323244169464.jpg
2.4.2 United Kindom
The UK economy is less export-driven than many other countries and this will give it more resistance to the impact of Brexit, the United Kingdom’s exit from the EU. Construction output is expected to grow, particularly in the new office buildings sector as well as for refurbishment projects, London ...
2.4.1 Germany
As the fourth largest economy in the world and the largest in the EU, growth in GDP in Germany is projected to be 1.6% in 2017 which will subsequently level at 1.3% in 2018/2020. The high rate of immigration over the last few years is said to have been a positive influence on economic activity parti.../images/up/News/2016112323155859836.jpg
2.4 Europe
Reported by Alan Field, based on the BSRIA market survey This is a report about the 2016 European market for central plant air conditioning equipment based on the World Air Conditioning 2016 report published earlier this year by the UK research association BSRIA. Statistical data in this article ...
2.3 Japan
The Japanese economy is continuing to show a gradual upswing reflecting the improving employment/income environment, dropping crude oil prices, and other factors influenced by the implementation of economic and fiscal policies. However, the real GDP in 2015 showed only 0.8% growth. The main cause wa.../images/up/News/2016112322595249760.jpg
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