Since 2012, economic growth has been high, driven by private consumption which accounts for about 70% of the economy. Growth has also been sustained by rising demand for exports.
The US economy is expected to grow 3.1 % in 2015, while unemployment is expected to drop to 5.5 %. Together with improving consumer sentiment, those indicators support higher top-line sales growth.
In the UK, consumer confidence and discretionary income have shown significant improvement over the past 12 months. The overall trend in consumer durables retail performance has been an improving one.
The forecast for Spain ́s economy seems to sustain further consumer durables sales in 2015. However, for some segments growth could be lower, given high purchase levels already seen in 2014.
German consumer durables retail benefits from the country ́s robust economic performance, with household consumption expected to grow 2 % in 2015 after 1.2 % registered in 2014.
Peru’s economic growth is expected to accelerate in 2015 spurred by lower interest rates, two mega mining projects, strong demand and public investment in infrastructure projects.
In 2015, Colombia’s economic performance is expected to slow down somewhat (to 3.8%) due to lower commodity prices, while robust domestic demand should sustain growth.
Argentina’s economy contracted 1.6% in 2014, and this negative trend is expected to continue in 2015, as exchange and price controls are forcing producers to scale back their activities.
Italian GDP is expected to grow after three years of contraction. Domestic demand is forecast to stabilise as investments and household consumption are expected to accelerate.
