Speaking at an opening event for the IFA trade show in Berlin, Miele's Dr. Reinhard Zinkann said he is viewing the worldwide future for this sector with restrained optimism.
Zinkann is also chairman of the Electrical Appliance Product Division of industry association ZVEI.
Zinkann said sales in Europe in the first half of 2012 were slightly lower than in the first half of 2011. He noted that sales declined in Western Europe but increasing in Eastern Europe.
"However, overall the dynamic pace of expansion has slowed", Zinkann said. He viewed Asia as a continuing growth market, but even here growth was less vigorous.
He noted the special impact of the market in China: "With a 12% share of the world market, the Chinese market is as large as that of the United States," Zinkann said.
He also noted that results in the United States remain stagnant, but Latin America is experiencing growth, with double-digit increases in Brazil.
"The European debt crisis is a major burden," Zinkann added, "but the home appliance industry is performing well."
The IFA consumer electronics trade show added Appliances @ IFA in 2008 and each year since, and participation by the appliance industry has made this the dominant European appliance trade event. IFA 2012 started August 31 and it runs through September 9.
to Daily News