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National Restaurant Association - Performance report shows moderate growth, expectations

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Performance report shows moderate growth, expectations

The National Restaurant Association’s Restaurant Performance Index in May signaled moderating expectations for business conditions among operators in an economic environment of job growth and increased capital spending, reports Hudson Riehle, our senior vice president of research.

According to Riehle, the May RPI was at 101.2, down 0.1 percent from 101.3 in April.

Here are some of the big takeaways for the economy and the industry:

Job growth

  • Restaurants added another 21,600 jobs, pushing industry employment up 1.9 percent over the past year, compared with 1.6 percent for national employment. During the last year, the industry added 221,000 jobs.

Capital spending

  • Sixty-three percent of operators made a capital expenditure within the last three months and 64 percent said they expect to make one during the next six months.

The commodities market

Regarding wholesale food price inflation, that index was up 0.9 percent on a year-to-date basis. Certain commodity groups rose year to date, including:

  • Eggs, up 103 percent
  • Potatoes, up 30 percent, and
  • Beef prices, which increased 5 percent
  • Prices on other wholesale commodities, such as pork and cheese, declined over the same period

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