Newly released research from a trio of sources points to slowed restaurant industry sales trends and weakened consumer confidence in the early summer months, snapping a string of recent positive news that had sparked operator optimism.
The National Restaurant Association’s Restaurant Performance Index posted its first decline in five months this May, after hitting its highest level in 11 months back in April. The NRA index of restaurant activity, which was released Tuesday, surveys operators on four economic indicators including sales, traffic, labor and capital expenditures. The May result stood at 98.3, down 0.3 percent from April and its 19th consecutive month below 100. The index is pegged to 100, meaning results below that level indicate industry contraction, and results above 100 indicate industry expansion. |
