Coca-Cola CEO Says Consumer Spending is “Robust”

Heading into this new year, Coca-Cola’s CEO James Quincey has said that consumer spending is “robust.”

According to Quincey, some sectors, particularly those in manufacturing and trade, are feeling some pressure.

The CEO feels confident about the consumer market in 2020. He said on CNBC’s “Squawk Box, on Wednesday “You walk around Davos and there are some sectors that are feeling the pressure coming out of 2019 and into 2020 — more on the manufacturing side, some of the big trade sectors.”

He added, “But the consumer seems to be robust around the world — yes, ups and downs, but they’re doing pretty well.”
It was earlier in the week that the International Monetary Fund revised its forecasts downward for 2019 and 2020, mostly due to slowing growth in India. The IMF also noted the uncertainty related to trade, which would weigh on the global economy.

Quincey said Coca-Cola is confident about consumer spending in 2019 and sees momentum heading into 2020.

The company’s third-quarter revenue had beat analyst estimates.

Coca-Cola is expected to report its fourth-quarter earnings on Jan. 30th.

Disclaimer: We have no position in Coca-Cola Co. (NYSE: KO) and have not been compensated for this article.