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Electrolux sees small 2013 Europe mkt demand drop, small US rise

Posted by | February 1, 2013 .

STOCKHOLM (Reuters) – The rise in market demand expected in the United States this year by world number two home appliances maker Electrolux will be in the low single digit range, chief executive Keith McLoughlin said on Friday.

Speaking to Reuters after the company reported a smaller than expected rise in core fourth quarter operating income, he said European consumers were still not reacting positively to the greater stability in the euro zone.

He said he expected market demand in 2013 to be positive in the low single digit range for North America and negative in the same range for Europe. He still expected a positive impact from raw material costs this year, though that advantage was being eaten away by rising plastics prices.

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