by Bill McBride on 6/29/2012 02:00:00 PM
Friday, June 29, 2012
Away from Europe ...
From the National Restaurant Association: Restaurant Performance Index Remains Above 100 for Seventh Consecutive Month, Reflecting Continued Positive Sales
The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 101.4 in May, down 0.2 percent from April’s level of 101.6. Despite the decline, May represented the seventh consecutive month that the RPI stood above 100, which signifies expansion in the index of key industry indicators.Click on graph for larger image.
“Despite a soft patch in the overall economy, restaurant operators reported positive same-store sales for the 12th consecutive month,” said Hudson Riehle, senior vice president of the Research and Knowledge Group for the Association. “Looking forward, restaurant operators remain generally optimistic about sales growth in the months ahead, though they are somewhat less bullish about the direction of the economy.”
Restaurant operators reported positive same-store sales for the 12th consecutive month in May ... While sales results remained positive, restaurant operators reported softer customer traffic results in May.
The index decreased to 101.4 in May, down from 101.6 in April (above 100 indicates expansion).
Restaurant spending is discretionary, so even though this is "D-list" data, I like to check it every month - and the index has been positive all year.
Posted by Bill McBride on 6/29/2012 02:00:00 PM