Home / Knowledge / News / EU recession to hit economy in 2009, foresee experts
EU recession to hit economy in 2009, foresee experts
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 27th Oct 2016

Teijin Frontier develops Solotex RC lightweight fibre

Teijin Frontier Co. Ltd, fibre products converting company and part...

Tosha Hays addressing the conference. Courtesy: College of Family and Consumer Sciences, UGA

Textiles | On 27th Oct 2016

Industry experts discuss future of fabrics at UGA

Industry experts, researchers and military officials discussed the...

Courtesy: Global Denim Awards

Fashion | On 27th Oct 2016

Anbasja Blanken & Italian mill ITV Denim win GDA

Dutch designer Anbasja Blanken and Italian mill ITV Denim was the...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Jurgen Gauger

‘Buying crowdsourced or creative designs are much more appealing to the...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search