by Bill McBride on 5/29/2015 07:10:00 PM
Friday, May 29, 2015
Here is a minor indicator I follow from the National Restaurant Association: Restaurant Performance Index Posts Moderate Gain in April
Driven by stronger same-stores sales and customer traffic levels, the National Restaurant Association’s Restaurant Performance Index (RPI) posted a moderate gain in April. The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 102.7 in April, up 0.5 percent from a level of 102.2 in March. In addition, April represented the 26th consecutive month in which the RPI stood above 100, which signifies expansion in the index of key industry indicators.Click on graph for larger image.
"While individual indicators experienced some choppiness in recent months, the overall RPI stood above the 102 level for seven consecutive months,” said Hudson Riehle, senior vice president of the Research and Knowledge Group for the Association. “This was driven by consistent majorities of restaurant operators reporting positive same-store sales as well as an optimistic outlook for sales growth in the months ahead.”
The index increased to 102.7 in April, up from 102.2 in March. (above 100 indicates expansion).
Restaurant spending is discretionary, so even though this is "D-list" data, I like to check it every month. This is another solid reading.
Posted by Bill McBride on 5/29/2015 07:10:00 PM