Restaurant Sales ‘Modestly Higher’ in May

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Photo by Jay Wennington on Unsplash.

Eating and drinking places registered total sales of $88 billion on a seasonally adjusted basis in May, according to preliminary data from the U.S. Census Bureau. That was up 0.4% from April’s downward-revised volume of $87.7 billion, but remained well below January’s recent high of $89.3 billion, according to research posted June 15 by the National Restaurant Association.

“While the pace of sales growth slowed in recent months, restaurants were still top of mind for many consumers,” the association writes. “Consumer spending in restaurants increased 8.0% during the last 12 months, while total spending in non-restaurant retail sectors rose just 0.7%.”

The association says, overall, consumer spending in restaurants trended modestly higher in recent months, but much of that growth was the result of higher menu prices. In inflation-adjusted terms, the trendline of restaurant sales was flat to lower in recent months.

 

44%

Percent of adults who say they’re not going out to restaurants as often as they would like.

Source: National Restaurant Association

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