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

The auto and constructions sectors continued to be affected by the decline recorded in the first quarter of 2010, and so did certain segments of the FMCG market, whilst the pharmaceutical market continued to grow, and the hotel industry halted its decline, with the first positive signs expected in the second part of the year.
Only 14,000 cars were sold in three months, as much as in two weeks in 2008, whilst the construction market is half what it was in 2009, the first year when a few billion euros “vanished” from the sector.
Sales on the FMCG market are not looking well, either, especially on 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 previous year.
Good news, however, comes from electronics and home appliances retail, 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 of Easter being a factor.