Mondelez Chief Sees US Consumer Confidence Weakening on Iran War

Mondelez International Inc.’s top executive sees the war in Iran eroding consumer confidence as Americans worry about the economy, job security and affordability.

“The US, the consumer confidence there remains quite low, and we expect it to further deteriorate as the Middle East conflict continues,” Chief Executive Officer Dirk Van de Put said on the packaged-food company’s earnings call with analysts on Tuesday. Lower-income consumers are focused on cheaper items and are being selective about when and what they buy, he said.