Economic News
Restaurant Spending Increases for Fourth Consecutive Month
In November, Eating and drinking places registered total sales of $90.4 billion on a seasonally adjusted basis, up from $89.6 billion in October, according to preliminary data from the U.S. Census Bureau.
Survey: 3 in 4 Consumers To Patronize Restaurants During Holiday Season Â
A new National Restaurant Association poll finds that 77% of consumers plan to order takeout or go out to eat over the next few weeks.
Restaurant Industry Posts Solid Employment Gains in November
The restaurant industry continues to build its workforce at a slow but steady pace, with November marking the 23rd consecutive month of employment growth.
Restaurant Performance Index Rises 0.8% in October
The increase comes as operators reported their strongest same-store sales performance since June, and customer traffic readings improved slightly.
2023 State of the Foodservice Industry
Continued menu price inflation, a changing B&I industry and recession probability top forecasters’ 2023 watchlists.
‘Inflation-Resistant’ Business Dining Segment Continues To Gain Ground
The Business Dining Index rose to 88 in Q3, with Dinova and Technomic predicting an index of 92 in Q4.
Foodservice E&S Sales Fall Short of Q3 Expectations
Sales were up 9% in the quarter, missing the forecast gain of 11.5%, according to MAFSI’s Business Barometer.
Full-Service Restaurants Reel in More Back-of-House Staff
At the end of Q3, full-service restaurants averaged three more back-of-house employees per location compared to June, according to Black Box Intelligence.
Food Away From Home Index Rises 0.9% in October
The U.S. Bureau of Labor Statistics released its latest Consumer Price Index, showing food away from home prices rose 0.9% for the third consecutive month.
Nearly Two-Thirds of Operators Planning Capital Expenditures
According to the National Restaurant Association’s latest RPI, 63% of operators are planning for equipment purchases, expansion or remodeling during the next six months.
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