As the Nelson A. Rockefeller Institute of Government has predicted for almost two years, the front-loading impact of taxpayers moving capital gains and dividends into 2012 in anticipation of the so-called fiscal cliff tax hikes has created a tax collection trough for state governments. Overall state tax collections fell 0.3% in the first quarter, compared…

Major economists remain optimistic about the U.S. economy during the next 18 months, according to the latest consensus forecasts from Blue Chip Economic Indicators. The 50 leading economic groups polled monthly by Blue Chip foresee rising growth rates for disposable personal income and consumer spending the rest of this year and in 2015. They also…

In spite of a decent gain in traffic in July, six of the components of the National Restaurant Association’s Restaurant Performance Index fell during the month, including both indicators of capital spending. Still, the overall index held at 101, well above the 100 level that signals the tipping point between expansion and contraction. It was…

The number of net restaurant units grew by less than 1% for the year ended March 31, according to data from The NPD Group’s biannual ReCount restaurant census. The market added 5,002 net units to reach 635,494. Almost 80% of the new units were chain restaurants, a growth of 1.3%. Independent operators, who control 351,359…

The rise in food prices continued in July as prices at the wholesale level rose another 1.1% during the month, the sixth consecutive increase during the past seven months. For the past 12 months, prices at the wholesale level, as computed by the National Restaurant Association from U.S. Bureau of Labor Statistics Producer Price data,…

Following a weather-related slowdown in the first quarter 2014, same-store sales at Canadian restaurants improved dramatically in the second quarter, according to the latest Restaurant Outlook Survey from Restaurants Canada, the Canadian foodservice association. But rising costs for food, labor and credit-card processing also are biting into operator margins. Additionally, respondents cite a lack of…

Traffic counts remain the problem for restaurant operators in the U.S., as the National Restaurant Association’s Restaurant Performance Index fell in June. Surveyed operators were also a bit less optimistic about the next six months in the June survey, as all four Expectation components fell. In fact, the only component that held steady was that…

Foodservice equipment and supplies manufacturers raised prices an average 3.1% during the 12 months ended June 30, up from an only 2.1% increase the previous year, according to the latest data from AutoQuotes Inc. But a jump in materials prices could change the E&S pricing environment in the coming year (see next story). The new…

A surge in prices for materials widely used in foodservice equipment and supplies likely will put pressure on foodservice equipment and supplies manufacturers to raise prices over the coming 12 months. Foodservice Equipment Reports Publisher Robin Ashton made that prediction during the magazine’s annual President’s Preview E&S Market Forecast meeting, held July 29 at the…

Sluggish growth in employment and wages, particularly among young adults, continues to undermine growth in restaurant traffic. Overall restaurant traffic was flat for the year ended in May, the NPD Group’s foodservice practice announced July 23, continuing a trend that has been apparent since the Great Recession. U.S. consumers made 61 billion visits to restaurants…