by Bill McBride on 8/31/2016 01:15:00 PM
Wednesday, August 31, 2016
Here is a minor indicator I follow from the National Restaurant Association: RPI ticks up slightly
Although same-store sales and customer traffic levels remain somewhat uneven, the National Restaurant Association’s Restaurant Performance Index (RPI) registered a modest increase in July. The RPI stood at 100.6 in July, up 0.3 percent from June.Click on graph for larger image.
“The primary driver of the modest RPI gain in July was positive capital expenditure levels,” said Hudson Riehle, senior vice president of research for the National Restaurant Association.
“While there is some volatility among index components, especially when looking at the current situation, operators’ plans for capital expenditures six months out remain solid. This fits in with how operators’ outlook for the future remains overall positive despite general economic choppiness,” Riehle said.
The index increased to 100.6 in July, up from 100.3 in June. (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 8/31/2016 01:15:00 PM