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IKEA calls for more China stimulus as sales slip

  • October 11, 2024
  • -Chinese Yuan, FCHFX

October 11, 2024 at 02:38AM
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.

IKEA calls for more China stimulus as sales slip
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