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McDonaldâs US test of the McPlant burger, which uses meatless patties from Beyond Meat, officially ended as planned, analysts revealed yesterday.
đ€ Howâd it go?... Not exactly to infinity and Beyond. While neither company publicized their sales data, analysts from JPMorgan and BTIG both said over the past two months that McPlant sales were coming in at or below the low end of projections, citing internal sources.
đđ Zoom out: Recent Nielsen data shows retail sales of meat substitutes have stayed roughly flat over the past two years, while the total volume of plant-based meat sold fell 5.8% last year.
đŠ Following the conclusion of its two-day meeting yesterday afternoon, the Federal Reserveâs policy board voted unanimously to raise interest rates by 0.75% for the second straight month.
The International Monetary Fund lowered its 2022 global economic forecast for the third time this year in a new quarterly report published yesterday, saying âthe outlook has darkened significantly since April.â
đ Wages for American workers aged 16 to 24 increased 12.5% over the year-long period ending in June, more than twice the rate of workers between the ages of 24 and 54, according to new data from the Atlanta Fed.
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