Salvadoran Industries Report Lower Sales
Up to and including November, 2008, industry sales fell 36.1% due to lower demand for products.
Friday, February 27, 2009
Jorge Arriaza, executive director of the Salvadoran Association of Industrialists (ASI by its initials in Spanish), told Laprensagrafica.com: "This is shaping up as a difficult year for the sector. We believe that we are going to grow by 1.5%, which is quite low. Last year, we grew by 2% and we believe that the recession is going to have an impact throughout the year. The IVOPI (Industrial Production Volume Index) has dropped to 3%, a strong downward trend in production as a result of the decline in consumption."
Due to the economic crisis, various sectors of the economy closed this March with lower sales than those in March 2008.
Due to consequences from Japan´s earthquake, manufacturers expect an increase in price of plastics, chemicals, oil, iron and steel.
Despite commercial efforts in promotions and discounts, consumer sales were down 4.3% in the first half of the year.
Salvadoran industrialists have asked for the establishment of a long-term strategic agenda for the nation, in an environment of legal stability and respect for institutions.
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