The number of household appliances sold in Hungary declined by 10% in 2008, and revenue of brand-name producers fell 16% last year, the business daily Világgazdaság reported on Tuesday, citing information from manufacturers’ association.
CEO Gellért Bolváry of domestic- and electrical-appliance wholesaler Indesit Hungary predicted that Hungary’s household-appliance market would contract by a further 8% in numerical terms in 2009.
Bolváry added that the weakening of the forint could generate an unprecedented 20% rise in the price of household appliances in Hungary this year.
László Gerő, head of the Hungarian unit of Italy’s Candy forecast an average 6% rise in the prices of 6% from March. (MTI-Eco)