While the latest government retail spending data shows that while it is slowing down, consumer spending on "eating out" or retail and food service sales, hasn't posted a sharp deterioration, secondary tracking sources beg to differ. A far more accurate tracker of real-time US Restaurant sales, that of the National Restaurant Association's Restaurant performance index, paints a far more disturbing picture.
As the Natl Restaurant Association reports for its latest data, August restaurant sales tumbled in August, sliding to the lowest level since the financial crisis. As the restaurant association reports, due in large part to declines in both same-store sales and customer traffic, the National Restaurant Association’s Restaurant Performance Index (RPI) fell below 100 in August. The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 99.6 in August, down 1.0 percent from a level of 100.6 in July.
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I think even in a bad economy, people will still eat out or go to the movies. It is an escape. I personally go to family owned restaurants and businesses whenever possible. I like the Deli at Pecan Square. Great food, and great people. They appreciate your business! Also like the Greek Pita place.
ReplyDeleteNobody is doing squat until we see how this election shakes out. Nice that 632 has money to blow but whatever.
ReplyDeleteWell I think the chains are ridiculous now. 2.35-3.00 for a pepsi! And you can't escape a dinner for two costing 45.00 and up! I go to Daytons or other local businesses that have cheaper prices and better service.
ReplyDeleteI escaped once,but not from the pressures of life.If everyone ate out as much as my family does restaurants would flourish.My wife and I both drink water and average $15 per lunch for the both of us and a 20% tip.$18 is comparable to how much buying the food at a grocery store and cooking it at home would total.
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