Hey, It's Not All Gloom and Doom
CHICAGO--McDonald's Corp., the world's largest restaurant company, said sales at locations open more than 13 months increased 12% in February, spurred by growth in Europe and Asia.
Comparable-store sales at U.S. outlets rose 8.3%, driven by strong performance from its breakfast, coffee and "everyday value" offerings. Sales in Europe advanced 15% while gaining 11% in the region encompassing Asia, the Middle East and Africa.
Canadian Employment at Record Highs--The U.S. should be envying Canada, its northern neighbor who reported stunning job growth in the month of February. The market was forecasting an increase of only 3k jobs, but to their surprise, 43k new jobs were added to Canadian payrolls, keeping the unemployment rate at a 33 year low of 5.8%. The increase in jobs was concentrated in the Ontario region and in the construction, public administration, service and trade sectors. Wages were also very strong with a 4.9% increase in the average hourly rate, more than double the rate of inflation.