Business and Industry

McDonald's Profits Down

Sluggish economy leaves customers buying cheaper menu items

|

McDonald's Corp. reported a 3.5% decline in third-quarter earnings as sales slowed more dramatically than expected because of a sluggish economy and a disappointing marketing campaign.

McDonald's predicted its sales and earnings growth will "remain pressured" over the next few quarters by the weak economy, and conceded that it needs to be more aggressive in advertising low prices.