Coca-Cola earnings were down 3% ytd compared to 2012, according to results released today. The stronger US dollar was a big reason but the company also blamed the economy.

“Our second quarter volume results came in below our expectations, reflecting an ongoing challenging global macroeconomic environment and unusually poor weather conditions in the quarter,” CEO Muhtar Kent said.

They specifically cited slow economies in Europe, Asia and Latin America but also noted that North American sales volumes were down 1% in the quarter and cited “weakened consumer spending.”