Economic News
Coffee Orders Rebound in Canada but Remain Down From Pre-Pandemic Levels
Restaurant coffee orders were up 13% for the year ending July 2022 but were still down 15% from three years ago.
Dining Out Tops List of Where Consumers Worldwide Are Cutting Back Spending
A new report by First Insight surveys consumers in France, Germany, Italy, Spain, the U.K. and the U.S. to measure the effects of the “cost of living crisis” on spending.
Business Dining Improves in Q2, Though Inflation Could Delay Full Recovery
Dinova and Technomic predict the business dining index will reach 89 in Q3 but may stall in Q4 as economic conditions present challenges.
MAFSI Barometer Shows Q2 Sales Exceed Forecast Gain
Sales for the second quarter increased 14.3%, while MAFSI says the industry continues to normalize.
Consumer Confidence, Higher Menu Prices Drive August Sales Growth
Same-store sales growth for the month was 5.3%, a “significant” increase of 4.6 percentage points over July’s growth rate, says Black Box Intelligence.
Are Price Hikes Impacting Restaurant Consumers?
New reports explore inflation’s impact on consumers and offer operators tips to prevent losing out.
Continued Rising Food Costs Contribute to Inflation Increasing 0.1% in August
Full-service meal prices are up 9%, and limited-service meal prices are up 7.2% year-over-year.
FEA Outlook Survey Shows Optimism, Though Same Economic Concerns Persist
Of those surveyed, 83% anticipate business growth of at least 5% over the next year.
July RPI Falls for Second Consecutive Month
The National Restaurant Association’s Restaurant Performance Index, which tracks the health of the U.S. restaurant industry, took a dip in July, falling 0.5% to 100.8.
Inflation-Adjusted Restaurant Sales Declined in July
While nominal restaurant spending increased for the sixth consecutive month in July, inflation-adjusted sales told a different story.
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