ZF English

Electronics retail rebounds in Q1. Steep decline continues in auto and construction sectors

31.03.2010, 23:03 14

The auto and constructions sectors continued to be affected bythe decline recorded in the first quarter of 2010, and so didcertain segments of the FMCG market, whilst the pharmaceuticalmarket continued to grow, and the hotel industry halted itsdecline, with the first positive signs expected in the second partof the year.
Only 14,000 cars were sold in three months, as much as in two weeksin 2008, whilst the construction market is half what it was in2009, the first year when a few billion euros "vanished" from thesector.
Sales on the FMCG market are not looking well, either, especiallyon big segments such as drinks and meat. Beer sales fell by 10-15%in the first three months of the year, according to ZF estimates,after in 2009 the market had lost 15% against the previousyear.
Good news, however, comes from electronics and home appliancesretail, a market worth around one billion euros, which saw a 40%decline last year and one of the biggest insolvencies, Flamingo's.On this market, after a weaker start of the year than in 2009,sales began to recover, especially in March, with the approach ofEaster being a factor.

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