McDonald's net takes hit as overseas gains taxed
sales dropped 0.3 percent in Europe. "The street consensus is that if Europe does not turn around, it almost doesn't matter what the U.S. does," said Chandy Smith, an analyst at New York-based New Amsterdam Partners. "The question is the European economy." The unemployment rate in Germany, Europe's largest economy, was 11.7 percent in June, and company officials acknowledged that McDonald's "message isn't getting through" in the United Kingdom.
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