Two of the US’ largest food and drink groups saw a significant downturn in profits in the quarter year to September, due to lower sales in their domestic market.

McDonald's saw earnings fall 30%, whilst Coca-Cola's fell 14%, with revenues down 4.6% at the fast-food chain and broadly flat for the soft drinks business.

McDonald’s chief executive Don Thompson admitted that the trading performance was not good enough. "McDonald's third-quarter results reflect a significant decline versus a year ago. By all measures, our performance fell short of our expectations."