McDonald's Corp. has announced that sales at restaurants open at least 13 months surged 6.5% more in July than was predicted. This growth was partially due to increased breakfast sales in both the U.S. and Asia. Same-store sales were up 4.3% in the U.S., 7.7% in Europe, and 9.9% in Asia, the Middle East, and Africa. Breakfast sales accounted for approximately 25% of U.S. sales and turned out to be the most profitable for McDonald's
. Breakfast items have also been strong sellers in other parts of the world. Wall Street analysts earlier predicted a 4% rise in McDonald's sales.
U.S. home sales expected to hit a five-year low
According to a trade group for real-estate agents, sales of homes nationally will hit a five-year low this year as lenders reduce loans. The National Association of Realtors' revised forecast predicts that 2007 home sales will total 6.04 million, a figure that is significantly lower than its earlier prediction of 6.11 million home sales. As sales of homes decrease, sales of related supply elements are expected to go down as well.
