Are you sure?

Hungary’s household-appliances market contracts 10% last year

  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)