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Apr 17, 2014
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What Nestle Says About Emerging Market
Nestle, the world's biggest food company, published first-quarter sales today, and the figures offer some lessons about the global economy. First, reports of the death of emerging markets are greatly exaggerated. Second, the risk of foreign-exchange wars is escalating as the major economies all eye weaker currencies as a way to goose exports and growth.Globally, Nestle's sales increased by 4.2 percent in the first three months of the year, excluding currency effects, the company's worst performance since 2009 though in line with what analysts had anticipated. For emerging markets, however, which Nestle classifies as Asia, Oceania and Africa, the jump was 7.3 percent, to 6.4 billion Swiss francs ($7.3 billion).
Source -
http://www.bloombergview.com
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