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1.1 North America: 1.1.1 United States
1.1 North America: 1.1.1 United States The U.S. industry is seeing growth, but overall manufacturing growth momentum slowed a little in 2015. Record cold temperatures and snowfall during the winter disrupted new construction markets and HVAC replacement. A large inventory buildup late 2014 carried through into 2015 due to regulatory changes that slowed sales growth.
4. Contributions:4.1 Italy
4. Contributions:4.1 Italy It is hoped that 2015 will prove to be the starting point of a substantial recovery for the general economy and the HVAC industry in Italy.
4.3 Spain
4.3 Spain The general economic indicators for 2015 showed upturns in almost all economic sectors in Spain. The Gross Domestic Product (GDP) of construction, both residential and non-residential, increased slightly after several years of continued decline.
2.1 China
2.1 China VRFs have maintained rapid growth in China over the past 10 years, but this growth has started to slow along with decelerated growth in the real estate sector.
1.4 India
1.4 India World Bank data peg India’s gross domestic product (GDP) growth in 2015 at 7.3% ? higher than any major world economy. The growth forecast for 2016 is 7.8%, which would be the highest among all major economies.