Overall state tax revenues grew 2.3% in the second quarter 2010, compared with the same quarter last year, according to the latest study from the Rockefeller Institute of Government. It was the second consecutive quarter of overall growth in state tax revenues, following five quarters of declines beginning the fourth quarter ’08. Revenues rose 2.5%…

Many observers of the foodservice market are concerned about the potential impact of rising food and other commodity prices on the nascent recovery in foodservice operator sales. As Joe Pawlak, v.p. at Technomic Inc., told us last week, “There is increasing concern on commodity pricing going forward, which could change the game tremendously, as value…

And now for the long-term picture. As we reported last issue, the consensus forecast for real growth of gross domestic product in the U.S. next year, according to the economists surveyed monthly by Blue Chip Economic Indicators, is a moderate 2.5%, even slower than this year’s 2.7% forecast. You might be interested to know that…

The Business Barometer maintained by the Manufacturers’ Agents Association for the Foodservice Industry improved again in the third quarter, posting a modest 1.5% decline versus the third quarter 2009. While the index recorded contracting sales for the 11th consecutive quarter, the number was the third consecutive quarter of improvement. The Barometer bottomed out in the…

A number of restaurant-activity indicators released during the past couple weeks show a pronounced positive trend for commercial foodservice. Data from The NPD Group on restaurant traffic, First Data, which tracks credit- and debit-card transactions and Knapp-Track, which follows same-store sales, show upward movement. Combined, the reports may indicate the market has finally, clearly turned.…

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The forecasts for continued slow growth of the U.S. economy and for a painfully slow recovery of employment are holding. The more than 50 macroeconomic forecasting groups surveyed monthly by Blue Chip Economic Indicators left their consensus forecasts for real growth of gross domestic product unchanged at 2.7% this year and 2.5% in 2011. It…

With prices for key metals and other commodities running 25% to 35% higher than a year ago, many suppliers of foodservice equipment and supplies have told FER Fortnightly they want to or will raise prices late this year and early next. (See related stories below). Whether they will be able to push through the increases…

“Everyone at every level of the materials supply chain is trying to raise prices,” says Tom Stundza, senior analyst in the Pricing and Purchasing Group at IHS/Global Insight. “The problem is there’s a lot of buyer resistance.” He doesn’t expect much change in this situation the next few months. “We won’t see a change until…

While many foodservice equipment and supplies manufacturers have told FER Fortnightly they plan to raise prices later this year or early next, Kent Motes, CEO at AutoQuotes Inc., says most have yet to make formal announcements. Only 12 manufacturers announced list-price increases for November, not significantly higher than the eight increases taken in November 2009.…