However, as much as we are confident about our ability to outperform markets, there are many indicators that suggest that the global macroeconomic environment will remain very difficult.While the growth prospects for consumer demand remain healthy in emerging markets, the fundamentals in developed markets continue to be weak. Consumer sentiment in Europe continues to suffer, and this has been going on for a while. Disposable incomes are being squeezed and households are reigning in their budgets, spending less and making whatever they have go farther. In the U.S., where economic indicators perhaps are more mixed, we still see 45 million people claiming benefits via food stamps.
Unilever Management Discusses Q1 2012 Results - Earnings Call Transcript
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