McDonald’s has suffered its biggest US sales slump in five years as consumers cut back on fast food.
Chief executive Chris Kempczinski said lower and middle class Americans were anxious about inflation and wider growth prospects.
US sales fell 3.6 per cent in the first quarter, the biggest decline since 2020. Sales declined by 1 per cent overseas – led by a downturn in the UK. Profits fell 3 per cent to £1.4billion.
It is the latest evidence that Donald Trump’s trade war is thwarting hopes that he could turbo-charge growth. The McDonald’s update came a day after figures showing US gross domestic product shrank at the start of this year, for the first time since 2022.
Kempczinski said: ‘We’re not immune to the volatility in the industry or pressures our consumers are facing.’
Rivals have also come under pressure, with sales falling at Yum Brands, the owner of the Taco Bell, KFC and Pizza Hut.
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