Following the high prices of the last two years, a decline in revenue for chicken egg producers is anticipated this year in the wake of oversupply. Whereas the industry grew by 21.3 percent last year, IBISWorld forecasts negative growth this year of 22.7 percent -- a major correction.
Hurricanes Katrina and Rita resulted in a huge drain on government funding in 2005, and industry revenue has been progressively falling ever since, with negative growth of 22 percent expected for the emergency and relief services sector this year.
Slower growth in the U.S. economy this year will lead to poor performance from the truck, trailer and motor home manufacturing sector, with industry revenue expected to decline by 17.9 percent, while falling prices in metals are expected to push down growth in the other metal ore mining sector by 17 percent.
Other sectors likely to experience tough times this year include: small electrical appliance manufacturing, down 11.5 percent in the face of massive competition from China and other Asian nations; apiculture, down 11.1 percent; and copper, nickel, lead and zinc mining, down 10.6 percent.
According to Mr. Van Horn, mortgage and non-mortgage loan brokers will suffer on the back of the Sub-Prime crisis as many banks will be unwilling to lend to customers in the new tighter credit environment.
"Low growth and economic uncertainty will mean little initiation from customers who will be reluctant to extend themselves by taking out mortgages or other loans," said Mr. Van Horn, adding, "As a result, we expect the industry to experience negative growth of 10.1 percent in 2008."
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