RAC/PAC
1.5.7 Russia
The Russian economy has continued to shrink with negative GDP in the current year. But the longer term prospects are more optimistic with positive growth forecast for the country’ economy by 2017. Nev...
1.5.6 United Kingdom
The UK’s GDP growth is currently around 2.5% and will remain at this level for the next few years. Inflation stays at near zero and construction output will start growing from the current year. A grea...
1.5.5 Germany
Still the largest economy in the Euro zone, Germany has reacted positively to the mass immigration over the last two years which is said to have increased domestic consumption and boosted the building industry. GDP is forecast to be 1.6% this year and will level at around 1.3% in the period of 2018-2020. Air conditioning has been slow to make an impact in the domestic sector (currently a pe...
1.5.4 France
The French economy has finally started to revive with GDP at 1.1% in 2015 - higher than expected in previous forecasts. The construction industry, particularly in the office buildings sector, register...
1.5.3 Turkey
In spite of recent social and political turmoil, the re-election of a majority government in late 2015 has stabilized the Turkish economy and restored consumer confidence. Growth in construction outpu...
1.5.2 Spain
The long decline in the Spanish economy has finally come to an end and the last five quarters have registered appreciable growth. Construction industry output is expected to reflect this with an upturn of around 4% forecast for 2016. Refurbishment continues to be a major force in the health of the air conditioning products market. Plant renewal or upgrading, which has long been postponed, is expec...
1.5.1 Italy
There are distinct prospects that the country’s economy is beginning to revive with a forecast 1.25% increase in GDP in the current year. Reduced energy costs will be a contributing factor as well as more favorable exchange rates. Splits remain the popular choice for residential buildings prompting fierce competition in the industry. VRF systems for office blocks and the commercial sector i...
1.5 Europe
Reported by Alan Field, JARN’s Europe Correspondent This European part is based on the World Air Conditioning published in March 2016, the latest report about Europe, the Americas, Asia Pacifi...
1.4 India
Reported by Rakesh Kumar, Technical Editor, ISHRAE Journal Politico-Economic Scene World Bank data peg India’s gross domestic product (GDP) growth in 2015 at 7.3% - higher than any major world economy...
1.3.7 Myanmar
Myanmar’s air conditioner market had a scale of only 262,000 units in 2015. The percentage of the population that owns an air conditioner is still low. With a population of approximately 50 mil...
