[ad_1]
The international credit rating agency declared that said consumption deficit would be projected on an annual horizon, that is, calculated as if the current restrictions remained unchanged for twelve months – EU economies it would be equivalent to 20 percent of its gross domestic product (GDP).Among the largest European economies Spain, Italy and the United Kingdom have the highest proportion of consumption that is likely to be delayed or postponed: In these countries, the unrealized value of consumption can reach 25 percent of gross domestic product measured by the projected annual calculation method, according to Moody’s analysis on Tuesday. Based on the credit rating, the service sector is expected to be
The hospitality industry, as well as the transport and cultural services sectors, will be the area where the loss of consumption due to restrictions and current shortages cannot be compensated later.
Moody’s estimates that these areas represent 25 percent of the value of household consumption within the European Union.For durable consumer goods such as automobiles, clothing – in which EU households spend 20% of their consumer spending – however, it is not certain that now lost consumption will be completely lost, since moderate demand at the time of the restrictions could be released by lifting the restrictions and improving consumer confidence.
The union said that only 4,321 cars were placed on the market in the United Kingdom last month, 97.3 percent less than the previous year. Last April, UK dealerships sold 161,000 new cars, SMMT emphasized that last month’s figure was a minimum of 74 years, as the latter sold fewer cars in Britain in February 1946 than in April this year. In the months since the beginning of the year, UK car sales have also dropped dramatically: 487,878 new cars have been on the market this year, 43.4% less than in the same period last year.
[ad_2]
