RAC/PAC
2.8 OCEANIA: New Zealand
New Zealand was experiencing a housing boom until February 2017, but this trend took a downturn in April. Sales of heat pump air conditioners did not increase, partly due to many warm days in the winter. The 2017 RAC market in New Zealand was at the same level as the 2016 market. Fujitsu General, Mitsubishi Electric, Daikin, and Panasonic lead the market. South Korean manufacturers such as ...
2.8 OCEANIA: Australia
Continuing from 2016, the 2017 Australian air conditioner market showed steady growth, supported by higher immigration numbers and a housing construction boom driven by Chinese investment. The ...
2.7 SOUTH KOREA
According to estimates released by the IMF in October, South Korea’s GDP growth rate is 3.0% in 2017, slightly higher than the 2.8% recorded in 2016. One key factor driving higher growth is a rise in ...
2.6 JAPAN
Japan’s real GDP growth rate in the quarter from July to September of 2017 recorded a 1.4% increase over the same quarter of the previous year, attaining positive growth for seven consecutive quarters...
2.5 EUROPE: Eastern Europe
The weather in Eastern Europe was unusually cold at the beginning of the 2017 sales season. In Poland and the Czech Republic, it was still snowing in March and April, resulting in a very slow start to...
2.5 EUROPE: Germany
According to the IMF, Germany’s GDP growth rate came to 1.9% in 2016, and is estimated at 2.1% in 2017. In addition to personal consumption, which has been a major economic support, growth in trade an...
2.5 EUROPE: France
According to the IMF, France’s GDP growth rate was 1.2% in 2016, and is estimated at 1.6% in 2017. While growth in private consumption and capital investment contributed to favorable internal demand, ...
2.5 EUROPE: United Kingdom
In a nationwide referendum held on June 23, 2016, the United Kingdom voted to leave the EU in what is known as Brexit. According to the IMF, the UK GDP growth rate came to 1.8% in 2016 and is estimate...
2.5 EUROPE: Russia
The Russian economy is on a recovery trend. The Russian ruble recovered slightly in 2017 from its depreciation over the previous two years, and the price of oil is rising again. However, temperatures ...
2.5 EUROPE: Turkey
Turkey’s economy took a downturn in 2016 with the political instability in the country. The government’s subsequent political and economic initiatives appear to be having a positive impact, however. A...
