Technomic Sticks With Optimistic 2015 and 2016 Forecasts
Technomic Inc., the Chicago-based foodservice research firm, sometimes revises its forecasts of operator sales trends in late summer or early fall. Given the slowing in jobs growth and the August turmoil in the equities markets, FER Fortnightly asked V.P. Joe Pawlak for an update.
“We have not revised 2016 and have no plans to do so until January,” he said. “Things do look good and our forecasts appear to be holding.”
In June, Technomic released optimistic forecasts of operator sales growth for both 2015 and 2016. With strong jobs growth, low gasoline prices and increasing household wealth, American consumers have been eating out slightly more often and spending more. Traffic and “sales” in most noncommercial and retail segments are also strong. Technomic pegs total industry growth in 2015 at 5.2% in current dollars and 2.3% real; the’16 forecast predicts nominal growth at 4.9% with real growth at 2.5%. Menu price inflation is expected to be lower next year.
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