Major global consumer-facing companies like McDonald's, General Motors and Nestle posted steady first-quarter results built on higher prices, showing how consumers across major economies are still spending despite slowed economic activity.
in the first quarter. Pepsi's CEO said the company is confident about improved growth in China, where first-quarter GDP rebounded after that country loosened longtime coronavirus restrictions.
for the quarter, beating expectations, but company CFO Ian Borden said "elevated cost inflation continued to put significant pressure on restaurant cash flows, particularly for our European franchisees." "Leading indicators are showing weakness," said Matt McAleer, director of equity strategies at Cumberland Advisors. "But it calls into view whether we'll see a harsh recessionary environment if employment stays as strong as it has."
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