INTERVIEW - GE sees weak 2010 rev growth in key division

By Sui-Lee Wee

GUANGZHOU, China (Reuters) - General Electric Co expects anaemic revenue growth in 2010 for its technology infrastructure segment, as the United States and Europe remain mired in an economic downturn, signalling the worst is not yet over for the largest U.S. conglomerate.

GE, which stumbled financially last year, is seen as a bellwether for the world economy due to the size and the scope of the firm's operations, which range from commercial lending to building locomotives to running the NBC television network.

"We're not expecting a significant growth rate next year," John Rice, chief executive of GE's technology infrastructure division, told Reuters in an interview on the sidelines of an economic forum in Guangzhou on Thursday.

"It's as choppy a time and difficult to forecast as any I've ever seen," he said. "I'm certainly hopeful that by the end of next year we'll see more clarity in the developed markets."

Rice's division, which oversees the world's largest maker of jet engines, accounts for 39 percent of GE's profit across its five segments.

"We're expecting some ups and some downs," Rice said, referring to his division's businesses. "The aviation business will probably not grow."

Asked whether growth in developing markets such as China would offset weakness in the U.S. and European markets, Rice, also a vice-chairman of GE, said: "It will help, but likely not completely."

Over the next few years, China, India, Brazil, the Middle East and Russia will remain important markets for the Fairfield, Connecticut-based company, Rice said.