Home / Knowledge / News / EU recession to hit economy in 2009, foresee experts
EU recession to hit economy in 2009, foresee experts
04
Sep '08
Since the beginning of this year business community has been struggling to cope with effects of weakening US economy.

However, analysts have predicted that a similar recession may hit the European nations in 2009.

It has been estimated that next year, the growth-rate of EU GDP will fall 1.1 percent, whereas, Chinese RMB will appreciate 10 percent against Euro.

Europe is the top export market for Chinese products.

However, considering the above factors, Chinese exports to the EU will possibly go down from this year's 26 percent to almost nil.

Export oriented industries, including textile and clothing, will suffer the most. Calculations show that if EU GDP growth drops one percent, Chinese textile industry income will shrink over 5 percent.

Experts say that Government must foresee this future and help enterprises to prepare and cope with these pressures.

They said that a few effective and good policies are all that is needed to assist industries in maintaining their positions in the global market.

Fibre2fashion News Desk - China


Must ReadView All

Textiles | On 20th Jul 2017

Provide safety net for cotton growers: Congress to Trump

A bipartisan Congressional coalition has called attention of...

Courtesy: ITMF

Textiles | On 20th Jul 2017

ITMF'17 themed on tech, trade, climate in disruptive times

The International Textile Manufacturers Federation (ITMF), an...

Textiles | On 20th Jul 2017

RIL’s Q1 FY18 petrochemicals revenue up 22.9% y-o-y

Reliance Industries Limited (RIL) has reported its financial...

Interviews View All

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X