October TIndex Shows Slight Decline in Foodservice Industry

The consumer trends and research company Technomic released October’s Technomic index (TIndex), a measurement of the health of the foodservice industry, and it showed a slight softening.

October’s TIndex was 97.8, meaning the restaurant industry was down 2.2% over a two-year basis. September’s TIndex was 98.9. According to Technomic, the decline could be due to factors like a softening in the travel and leisure segments, as well as slight traffic moderation among independent restaurants.

While the industry was down slightly, Technomic noted that foodservice has grown 18.5% compared to the same month in 2020.

“It will be interesting to see how the numbers shift going into the holiday season and as concerns of new COVID-19 variants continue to pop up,” reads Technomic’s report.

Here’s a look at past TIndex reports:

October: 97.8

September: 98.9

August: 98.1

July: 101.1

June: 101.8

May: 94.3

April: 94.6

March: 94.1

Courtesy of Technomic.