Moody's Revises Outlook For Consumer Packaged Goods Industry To Stable
Moody's Investors Service has announced it had revised its outlook for the global consumer packaged goods industry to stable from positive, due to mounting profit pressures in the industry.
The firm said that industry operating profit is likely to grow between 3.5% and 4.0% over the next 12 to 18 months, which is short of the ratings agency's previous forecast of 4.5% to 5.5%.
Despite the lower outlook, earnings growth is likely to continue to be supported by 'still-strong consumer confidence, price increases and economic stability', it added.
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