On the heels of a 10-month increase, restaurant spending flattened out in April and dropped in May, and cooling consumer sentiment suggests this trend may carry through the summer, according to Kurt Salmon’s Restaurant Spending Trajectory.
“Consumer sentiment dropped for the fourth straight month in June, and it’s clearly reflected in slower spending,” said restaurant strategist Todd Hooper. “We can expect flat to lower spending for the balance of the summer. Still, the industry remains strong and will respond positively when consumers’ overall appetites begin growing again.”
16 July 2012