The Gross Domestic Product (GDP) of the United Kingdom accelerated its growth in the second quarter to 0.2 % compared to the expansion of 0.1 % in the previous quarter, as reported by the National Statistics Office (ONS).

The rebound in growth in Europe’s second-largest economy reflects the 0.1 % expansion in services, as well as 0.7 % in production and 0.3 % in construction.

In monthly data, British GDP grew by 0.5 % in June, after contracting 0.1 % in May and expanding 0.2 % in April.

In June, the services sector grew by 0.2 %, while production and construction grew by 1.8 % and 1.6 %, respectively. It is the first month since October 2022 that all three sectors contributed positively to GDP in the same month.

In this way, unlike the quarterly data, in the month of June the GDP of the United Kingdom stood 0.8 % above the level of February 2020, prior to the pandemic.

Source: dpa

(Reference image source: John McArthur, Unsplash)

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The eurozone experienced a slight rebound in its economic growth during the second quarter, after having stagnated in the first three months of the year, although difficulties persist in Germany, according to what was revealed in a first estimate published by Eurostat.

Between the months of April and June, the Gross Domestic Product (GDP) of the 20 countries that share the single currency increased by 0.3 % compared to the previous quarter. It is important to mention that in the first quarter, growth had completely stagnated (+0 %), a figure that has been revised by Eurostat, since a slight decrease of 0.1 % had initially been reported.

In relation to inflation in the euro area, a decline continued to be observed in the month of July, reaching 5.3 % after having reached 5.5 % in June and 6.1 % in May. This decrease has been due to a new decrease in energy prices, according to data announced by Eurostat last Monday.

However, it should be noted that food prices continue to rise at a high rate, with a year-on-year inflation rate of 10.8 %, although this figure represents a slight decrease from the 11.6 % registered in June, according to the European statistical office.

It is important to note that the current inflation rate remains well above the 2 % target set by the European Central Bank (ECB).

K. Tovar

Source: Bancaynegocios

(Reference image source: Unsplash+)

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The multinational ‘snacks’ and soft drinks PepsiCo closed the second quarter with an attributable net profit of 2,748 million dollars, which is equivalent to an advance of 92.3 % compared to the same period of the previous year, according to the accounts published by the company, which has revised its expectations for 2023 upwards.

The results of the American company in the second quarter of last year were exceptionally penalized by the adverse impact of the impairment of the value of the assets and write-offs of the company in Russia.

Net income in the quarter amounted to 22,322 million dollars, 10.4 % more in absolute values and 13 % more in organic data, which excludes the impact of the exchange rate and variations in the company’s accounting perimeter.

The multinational applied in the quarter a price increase of 15 % on average, which reached 2 % in Europe, while the volumes sold decreased by 2 %.

Between April and June, PepsiCo increased sales of Frito-Lay by 14 %, up to 5,904 million dollars and those of PepsiCo Beverages North America by 10 %, up to 6,755 million dollars.

In the case of Europe, the multinational’s sales increased by 13 %, up to 3,428 million dollars and 18 % in Latin America, up to 2,856 million dollars.

In Asia-Pacific, Australia and New Zealand, PepsiCo’s turnover increased 1 %, to 1,127 million dollars, while in Africa, the Middle East and Southeast Asia it fell 8 %, to 1,568 million dollars.

“We are very satisfied with our performance in the second quarter, since our commercial momentum continues to be solid,” said the president and CEO of the multinational, the Spanish Ramón Laguarta,

“Our strong performance and the progress we are making on our strategic priorities give us confidence that the investments we are making to become an even faster, even stronger and even better organization,” the executive added.

In this way, in the first semester PepsiCo obtained an attributable net profit of 4,680 million dollars, 17.7 % lower than that recorded in the first half of last year, while net income totaled 40,168 million dollars, 10.3 % more.

Source: dpa

(Reference image source: WrS.tm.pl, Unsplash)

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La entrada PepsiCo earns 92 % more in the second quarter apareció primero en Bitfinance.