Consumer sentiment inched upward for the seventh straight month in February, signaling a likely increase in restaurant sales this spring, according to Kurt Salmon’s Restaurant Spending Trajectory.
Meanwhile, consumer spending at restaurants hit another all-time high in January.
“The continued recovery in restaurant spending since the dark days of 2009 is really impressive, especially during the last three quarters, when this spending has outpaced improvements in consumer sentiment,” said Kurt Salmon restaurant strategist Todd Hooper. “Some consumers depend on the convenience of eating out, others simply enjoy it, and both types will likely contribute to continued growth into the spring.”
6 March 2012