I had a feeling that Indian urban economy is doing pretty well. This is a sign of over-enthusiastic manufacturing or economic slowdown.... :huh:
The year seems to be ending on a sour note for makers of consumer durables. Major companies like LG, Philips and Onida have started slashing production and imports by 22-25% following a massive slump in demand in the last quarter of ’05.
Companies are sitting on high inventory levels, which have been built up to meet the traditional jump in sales during festive season. Diwali, this year, failed to live up to the targets set by most companies.
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More here
The year seems to be ending on a sour note for makers of consumer durables. Major companies like LG, Philips and Onida have started slashing production and imports by 22-25% following a massive slump in demand in the last quarter of ’05.
Companies are sitting on high inventory levels, which have been built up to meet the traditional jump in sales during festive season. Diwali, this year, failed to live up to the targets set by most companies.
[/b]
More here