June 8 (Bloomberg) -- McDonald’s Corp., the world’s largest restaurant company, fell the most in more than a month in New York trading after the company reported May U.S. sales that trailed analysts’ estimates.

McDonald’s dropped $1.15, or 1.9 percent, to $58.72 at 4 p.m. in New York Stock Exchange composite trading. It was the biggest decline since April 30. The shares have fallen 5.6 percent this year.

Sales at U.S. restaurants open at least 13 months rose 2.8 percent, Oak Brook, Illinois-based McDonald’s said today in a statement. Analysts, on average, anticipated a 3.8 percent increase. Global sales climbed 5.1 percent, as European orders and results in Asia, the Middle East and Africa exceeded estimates.

“We are encouraged by the strength in international markets, although the U.S. trends were somewhat beneath our expectations,” David Tarantino, an analyst with Robert W. Baird & Co. in Milwaukee, wrote in a note today. U.S. growth was slower than predicted because of “difficult comparisons from last year’s launch of the Southern Chicken Biscuit and Sandwich,” he said. He rates the stock “outperform.”

Extended breakfast and late-night hours are driving sales in the U.K., France, Germany and Russia. In the Asia-Pacific region, gains in Australia and Japan helped counter slowing consumer spending in China. A national advertising campaign for the McCafe line of espresso-based drinks helped sales in the U.S., where the new products are topping company expectations, executives said last month.

Analysts’ Estimates

Analysts predicted global sales would gain 4.4 percent, the average of six estimates compiled by Bloomberg. Sales in Europe, which analysts projected to climb 4.4 percent, grew 7.6 percent. Asia, the Middle East and Africa rose 6.4 percent, while the anticipated increase was 5.2 percent.

Currency translation will probably trim earnings by as much as 9 cents a share in the second quarter and 20 cents this year on the stronger U.S. dollar, McDonald’s said today. The dollar has gained 6.8 percent against the ruble this year and 8.6 percent against the yen. It has lost 8.3 percent against the pound and 11 percent against the Australian dollar.

To contact the reporter on this story: Courtney Dentch in New York at cdentch1@bloomberg.net.

Last Updated: June 8, 2009 16:12 EDT