by Bill McBride on 9/28/2012 12:55:00 PM
Friday, September 28, 2012
From the National Restaurant Association: Stronger Sales, Traffic Bolster Restaurant Performance Index in August
The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 100.6 in August, up 0.4 percent from July and the first increase in five months. August represented the tenth consecutive month that the RPI stood above 100, which signifies continued expansion in the index of key industry indicators.Click on graph for larger image.
“Growth in the RPI was driven largely by improving same-store sales and customer traffic results in August,” said Hudson Riehle, senior vice president of the Research and Knowledge Group for the Association. “Six out of 10 restaurant operators reported positive same-store sales in August, while customer traffic readings bounced back from July’s net decline.”
“In contrast, the Expectations Index remained dampened compared to recent stronger levels, with restaurant operators retaining a cautious outlook for sales growth and the economy in the months ahead,” Riehle added.
The index increased to 100.6 in August, up from 100.2 in July (above 100 indicates expansion).
Restaurant spending is discretionary, so even though this is "D-list" data, I like to check it every month.
Posted by Bill McBride on 9/28/2012 12:55:00 PM