Trade Resources Industry Views European Producers Were Still Facing a Number of Uncertainties

European Producers Were Still Facing a Number of Uncertainties

Trade group ZVEI warned on Thursday, however, that European producers were still facing a number of uncertainties, including fallout from the euro zone debt crisis and Germany pushing through its planned shift to a greener energy mix.

Germany's electronics industry employs about 842,000 workers, trailing only the engineering sector.

Its members mainly comprise mid-sized companies, as well as top names such as chipmaker Infineon and Siemens .

Sales are expected to recover to almost 170 billion euros ($234 billion) next year. This year sales are projected to have fallen to 166 billion euros on weak domestic demand and a 2-percent drop in exports.

Demand from euro zone countries, which account for about a third of all exports of the German electronics industry, was very weak, the lobby group's head Klaus Mittelbach told reporters.

But signs for the future were better. "Orders in the electronics industry were up 2 percent between January and October," he said, adding orders in October jumped 6 percent.

($1 = 0.7266 euros) (Reporting by Harro ten Wolde; Editing by Mark Potter)

Source: http://www.capacitorindustry.com/german-electronics-lobby-sees-2014-output-up-about-2-pct
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German Electronics Lobby Sees 2014 Output up About 2 PCT