P&G (NSYE:PG), PepsiCo (NYSE:PEP) Coca-Cola (NYSE:KO), Philip Morris (NYSE:PM) Top Consumer Staples Picks of Goldman (NYSE:GS)

Goldman Sachs (NYSE:GS) is starting to like the consumer staples sector better, and their top picks include P&G (NSYE:PG), PepsiCo (NYSE:PEP), Coca-Cola (NYSE:KO) and Philip Morris (NYSE:PM).

Of all of this is predicated on the assumption there will be a global and U.S. recovery, none of which are certain by any means.

It also appears brands are pulling back on their battle, which could boost margins and earnings for the companies.

All Goldman could say about the condition of the U.S. economy was that it's "less bad" than it has been; not a great generator of confidence.

The top picks of Goldman based on the assumption the U.S. economy will recover, are Church & Dwight (NYSE:CHD), P&G (PG) and PepsiCo (PEP).

If things go well economically across the globe, Goldman likes Coca-Cola Company (KO) and Philip Morris International (PM).

Believing 2011 will be a strong year for acquisitions, Goldman sees Hansen (Nasdaq:HNSN), Lorillard (NYSE:LO) and Mead Johnson (NYSE:MJN) as "Buys."

Finally, assuming inflationary conditions, their favorite in the sector is General Mills (NYSE:GIS).

Proctor & Gamble were trading at $64.89, up $0.85, or 1.34 percent, as of 1:03 PM Est. Pepsico was trading at $66.66, up $0.33, or 0.50 percent. Coca-Cola was at $63.00, up $0.31, or 0.49 percent. Philip Morris was trading at $56.48, up $0.46, or 0.82 percent.