Wednesday , 6 November 2024
Home Forex IKEA calls for more China stimulus as sales slip
Forex

IKEA calls for more China stimulus as sales slip

Info via Reuters – IKEA calls for more China stimulus as sales slip

  • IKEA urges China to deploy further economic stimulus
  • China accounted for 3.5% of Ingka Group’s global sales, down from 3.6%
  • IKEA opened new Shanghai store in September, now has 39 stores in China
  • Price cuts helped boost sales
  • China unveiled aggressive monetary stimulus package two weeks ago … IKEA executives “excited” to see impact on home furnishing market

Key quote: “We would like to encourage even more stimulation to the market because the market needs a little extra boost,” – Jesper Brodin, CEO of Ingka Group

As a heads up ICYMI, China’s finance ministry is to provide further stimulus plans on Saturday

This article was written by Eamonn Sheridan at www.forexlive.com.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Lagarde wants bigger banks

Lagarde in Frankfurt:Celebrating 10 years of Single Supervisory Mechanism (SSM)Bank capital ratios...

It’s the dawn of a new era

Trump is back and it looks like Republicans are back in Congressional...

What to keep an eye out for now in the race for control of the House?

It all comes down to this now in determining whether or not...

Technical levels following the Trump victory/the GOP run

Pres. Trump blazed through the Presidential election and a new era begins....