Restaurant spending grew for the seventh straight month in December and modest increases in consumer sentiment suggest this growth will continue, albeit more slowly, according to Kurt Salmon’s Restaurant Spending Trajectory.
“Spending on food away from home has been growing rather steadily for more than two years and is up 10% during that period. Consumers don’t seem to be pulling back either,” said restaurant strategist Todd Hooper. “The restaurant industry can expect continued growth, though the very strong growth seen during the last six months may be hard to maintain in the near term.”
1 February 2012