european economic downturn gathers pace - home appliances suppliers

LONDON-On Wednesday, after the latest round of bad news on debt, any hope of recovery in Europe's crumbling economies suffered a series of blows --ridden region.
According to official data, the UK does not use the euro, ranking third in Europe.
As the largest economy, the economy is in recession as the government continues to increase taxes and cut spending to reduce debt.
Meanwhile, the survey shows that 17-
Euro zone countries, suggesting an imminent economic recovery, business confidence in Germany, Europe's largest economy and its growth pillar continues to declineso far.
The situation in Spain remains tense, with the government's lending rates hovering at unsustainable levels, potentially forcing Spain to seek outside help to finance its debt.
News on Wednesday showed that the economic crisis was accelerating.
Not only in weak euro-zone countries such as Spain, but also in larger economies such as Germany and countries outside the euro-zone, as in the United States. K.
Earlier this week, financial markets were largely stable due to problems in Spain.
Germany's DAX rose 0.
3%, Britain fell nearly 0 when rich. 1 percent.
The euro only made up for some losses the other day, trading 0.
Rose 8% to $1. 2158.
Britain's biggest impact on the day of Brexit came from the United States. K.
China's second-quarter GDP data show that economic output shrank by 0.
7% in April-
Compared with the first three months, the quarter of June.
This is much worse than 0.
Economists had forecast a 2% decline.
These numbers put tremendous pressure on the United States. K.
The government will ease its tough austerity policy.
Conservative-
Two years ago, the leading coalition government came to power and promised to focus on reducing the deficit.
A lot of people, especially the opposition Labor Party, now think it's tough and killing the economy.
The International Monetary Fund said last week that British Prime Minister David Cameron's government would have to relax its budget.
If the economy fails to rebound strongly, it will cut spending.
The International Monetary Fund lowered its forecast for the United States. K.
Growth to 0 this year.
2% from 0. 8 percent.
After today's data, several analysts expect its contract volume to be as high as 0. 5 percent.
British finance minister Osborne blamed the economic problems on the debt of the former Labor government and the impact of the eurozone crisis.
We all know that this country is very deep.
These disappointing data confirm this . "
The biggest concern in the eurozone is whether Spain needs a sovereign bailout.
The threat remains Wednesday.
The country's bond market has seen borrowing rates soar amid fears that China will be able to continue processing its debt.
The benchmark interest rate is 10-
The annual debt rose by 0.
11 percentage points to 7.
The first hour of trading on Wednesday was 65%, followed by a fall to 7. 37 percent.
The interest rate of more than 7% is considered untenable in a few months --
Spain has suffered for weeks.
If Madrid finds it too expensive to raise money from the bond market at such rates, it will have to seek international aid as Greece, Ireland or Portugal seek.
Spain has denied the need for a financial bailout of its public finances, but many investors believe it is only a matter of time.
The prospect of saving Spain
Euro zone 4-
The largest economy
This is a concern for Europe, because such costs will put a lot of pressure on Europe's existing emergency funds.
In June, euro-zone countries agreed to provide up to 100 billion euros in loans to Spain ($121 billion)
To save banks that have been investing in the downturn since the real estate industry collapsed in 2008.
Officials hope the loan will help the Spanish government.
But the deal only adds to concerns about the level of Spanish debt, as the government will have to repay the loans if banks cannot repay them.
To solve the problem, eurozone ministers agreed to lend directly to Spanish banks.
But only after Europe.
Wide bank regulators have been set up.
If not for a few years, it may take a few months.
France and Spain say this step should be accelerated and completed by the end of this year.
"The rapid implementation of the financial assistance program is essential to restore confidence and create conditions for growth, "French Finance Minister Pierre Moscow and Spanish Economy Minister Luis de Kindos issued a joint statement after talks in Paris on Wednesday.
The ECB's latest figures show that the ECB's worries about the economy and unemployment are weighing on the demand for loans from euro-zone companies and consumers.
Over the past six months, the European Central Bank has cut interest rates to their lowest level in history and has provided banks with a lot of cheap loans.
But, according to the ECB's quarterly loan survey of 130 bank senior loan officers, even with loans, companies and families are too worried about not being able to lend in the future.
Banks have also seen a sharp decline in consumer demand for durable goods loans. big-
Ticket items that last several years, such as cars and household appliances.
Many countries in the euro zone are in recession over debt.
Even Germany, Europe's largest economy, showed signs of a slowdown.
According to the influential Ifo Institute, German companies' confidence in Germany fell further than expected in July.
Its confidence index fell from 105 for the third straight month.
2 from June to 103.
July 3-
The lowest level since last March.
So far, Germany has not been affected by the debt crisis of other European countries.
Driven by strong exports and growing domestic demand, China's economy has experienced strong growth for two years.
However, with rising concerns about Spain's fiscal problems and new doubts about Greece's future in the euro zone, Germany may be hit in two ways: the decline in overseas demand for its goods and the need for more money to maintain stability in the euro zone.
Economic uncertainty is hitting big companies such as automakers.
Peugeot Citroen, double-
It is reported that the number of cars in France has reached 30.
Loss of 0. 819 billion euros ($990 million)
On Wednesday, many markets in Europe were accused of growing recession.
The company's share price has fallen by more than half since.
To help companies like Peugeot, the French government announced a plan on Wednesday to turn the car industry around by helping Peugeot develop and sell eco-friendly products
Friendly vehicles.
However, it is uncertain how much the plan will help in the face of the global recession.
The French government will raise rebates for French consumers to buy electric or hybrid cars.
Approximately € 0. 5 billion is expected to be paid ($600 million)
There will be such rebates next year.
It will also provide hundreds of millions of euros for automakers and their suppliers who invest in green technology or create new jobs.
However, most of the funding for these incentives comes from funds that are already budgeted for being redeployed.
Ciaran Giles in Madrid, David mchough in Frankfurt, Geir Moulson in Berlin and Sarah DiLorenzo in Paris contributed to the report.