U.K.-based Diageo PLC, the world’s largest spirits company by volume, said Tuesday it is seeing signs of a recovery in demand in the U.S., though the consumer environment in the country remains unsettled.

“The fiscal 2011 situation remains unsettled, but we see signs of recovery. There is still high unemployment and low consumer confidence, but there are emerging, positive signs of life in fall retail sales. We are encouraged (by that),” Ivan Menezes, Diageo’s president of North America and chairman of the Asia-Pacific region, said on a call with investors. Get the full story »