by Bill McBride on 11/29/2010 10:45:00 PM
Monday, November 29, 2010
This is one of several industry specific indexes I track each month.
Click on graph for larger image in new window.
Unfortunately the data for this index only goes back to 2002.
Note: Any reading above 100 shows expansion for this index.
From the National Restaurant Association (NRA): Restaurant Performance Index highest in three years
"The National Restaurant Association’s Restaurant Performance Index in October reached 100.7. This is the highest level for the index in over three years, since September 2007, and reflects a strengthening environment of consumer spending at restaurants." said Hudson Riehle, senior vice president of the Research and Knowledge Group for the National Restaurant Association.
Restraurants are a discretionary expense, and this expansion suggests consumers are becoming more confident.