Consumer spending at restaurants may flatten heading into fall, potentially halting the downward slide that began in April, according to Kurt Salmon’s Restaurant Spending Trajectory.
After six straight months of slipping from its post-recession peak in March, consumer sentiment related to restaurant spending recovered slightly in August.
“There may be long-awaited good news in this uptick in consumer sentiment,” said restaurant strategist Todd Hooper. “Over the last five years, such an uptick has been confirmed by a second uptick the following month 50% of the time. It’s too early to know whether we have kicked off a new period of growth—there’s just still too much uncertainty. The latest news, however, offers hope that the industry may be moving from defense to offense in the coming months.”
31 August 2011