Whirlpool: Middle East conflict leads to “recession-level downturn” in the US home appliance industry

Whirlpool Chairman and CEO Marc Bitzer stated that the war launched by the US and Israel against Iran has heightened consumers' concerns about the cost of living, directly causing a sharp drop in the US consumer confidence index. This has had a severe impact on the US home appliance industry, with the current degree of decline comparable to that during the global financial crisis and even more serious than other recession periods. It is expected that North American industry demand will decrease by about 5% by 2026.