Tuesday, April 30, 2013

Restaurant Index increased in March

by Calculated Risk on 4/30/2013 04:40:00 PM

From the National Restaurant Association: Positive same-store sales push RPI above 100 in March

Buoyed by positive sales results and a more optimistic outlook among restaurant operators, the National Restaurant Association’s Restaurant Performance Index (RPI) rose above 100 in March. The RPI stood at 100.6 in March, up 0.7 percent from February’s level of 99.9. March represented the second time in the last three months that the RPI stood above 100, which signifies expansion in the index of key industry indicators.

“The Restaurant Performance Index gain was driven by stronger same-store sales results in March, with comparisons aided by the Easter holiday occurring during the month,” said Hudson Riehle, senior vice president of the Research and Knowledge Group for the Association. “In addition, restaurant operators are somewhat more confident in the economy and a majority plan to make a capital expenditure in the next six months.”
...
The Current Situation Index stood at 99.8 in March – up 1.5 percent from February’s level. After reporting a same-store sales decline for the first time in 21 months, restaurant operators bounced back in March with a modest net gain. ... While overall sales were positive in March, restaurant operators reported a net decline in customer traffic for the fourth consecutive month. Despite the mixed sales and traffic results, restaurant operators reported an increase in capital spending activity.
Restaurant Performance Index Click on graph for larger image.

The index increased to 100.6 in March, up from 99.9 in February. (above 100 indicates expansion).

Restaurant spending is discretionary, so even though this is "D-list" data, I like to check it every month.  More evidence of a currently sluggish recovery ...

Earlier on House Prices:
Case-Shiller: Comp 20 House Prices increased 9.3% year-over-year in February
Real House Prices, Price-to-Rent Ratio, City Prices relative to 2000