CEO Says P&G Preparing for Tough Economic Times

Procter & Gamble Corp. Chief Executive Robert McDonald says his company is preparing for a period of little or no economic growth in developed countries.

McDonald told reporters Wednesday in Singapore that he's concerned about the lack of growth in the U.S. He said his company's sales from October last year through to March this year in North America, Western Europe and Japan were flat.

P&G is scheduled to announce its April-June earnings Friday.

McDonald said his company is seeking to meet its profit goals even if the economic environment is not positive.

Cincinnati-based P&G makes consumer goods such as Pampers diapers, Tide detergent and Crest toothpaste.