Technomic Lowers 2017 Foodservice Growth Forecast To 3.7%
Technomic Inc., the Chicago-based foodservice research firm, unveiled its foodservice industry 2017 and 2018 forecasts for clients during the NRA Show May 22. The growth forecast for 2017 total industry growth was revised down half a point to 3.7% in current dollars from the 4.2% 2017 revision the firm released November of 2016. Real growth was lowered to 1.4% this year from the previous 1.6%, as Technomic also cut its estimate of 2017 menu price increases to 2.4% from 2.7%.
The preliminary forecast for 2018 is for 3.8% nominal sales growth and 1.4% real growth with a forecast menu price increase of 2.5%.
A more complete report on Technomic’s forecasts will appear in a later issue of FER Fortnightly.