STOCKHOLM, April 25 Electrolux does
not expect the European appliances market to recover in the
first half of 2013, but hopes positive signs in North America
will start spreading to Europe in the second half, its chief
executive told Reuters on Thursday.
"I would said that we don't expect recovery in the first
half," Chief Executive Keith McLoughlin said, adding that when
the U.S. market starts to recover, Europe is typically "not that
"We're hopeful that we will start to see something more
positive in the second half, but we're not changing our outlook
for the year for Europe," he said.
The world's second biggest appliances maker expects market
demand for core appliances in Europe to decline this year, while
demand in North America is expected to increase on the back of
an improving housing market.
The company's earnings fell more than expected in the first
(Reporting by Veronica Ek, editing by Patrick Lannin)