The world’s largest soft drink maker has also been hampered by some emerging markets issues.
“Additionally, economic conditions in certain emerging markets, like Central America, offset growth in India and Central and Eastern Europe. For example, in Argentina, unit case volume declined by double digits as the country entered a recession in the second half of 2019,” notes CNBC.
Investors typically shift into consumer staples during bouts of market volatility because of the sector’s relatively generous dividend payouts and the slow-and-steady nature of the consumer staples business – consumers usually continue purchase basic products that staples firms sell regardless of market or economic conditions.
XLP is up a bit more than 7% this year.
For more market news, visit ETFTrends.com.
