European companies are hailing a possible end to the vicious round of cuts in inventory levels as a sign that customer demand could be stabilising in spite of the continuing global recession.
The turn in the inventory cycle is due to be reached in the next two months in industries as diverse as mobile phones, steel and consumer goods and that should lead to a rise in sales, according to some executives.
“We think the worst in destocking is over and we see better selling opportunities in the second quarter,” said Harold Goddijn, chief executive of TomTom, the struggling Dutch maker of satellite navigation devices.
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