P&G earnings, revenue forecasts drop

6/21/2012

NEW YORK -- Procter & Gamble Co. on Wednesday lowered its fourth-quarter earnings and revenue forecasts, the latest company to sound warning bells about slowing global economic growth.

Cincinnati-based P&G, which makes an array of everyday goods ranging from Tide detergent to Gillette razors, said it is cutting the forecast because of unfavorable foreign exchange rates, continued slow growth in developed markets, and a slowdown of growth in China.