WASHINGTON D.C. — The outlook for the restaurant industry remained positive in October, despite a modest decline in the National Restaurant Association's (NRA) comprehensive index of restaurant activity.
According to a news release, the NRA's Performance Index (RPI), a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry, stood at 101.2 in October, down 0.3 percent from its September level. However, the RPI remained above 100 for the 42nd consecutive month, which represents expansion in the association's composite index of eight key industry indicators.
"Despite the modest October decline in the overall index, the outlook for the industry remains positive, bolstered by the second consecutive monthly gain in the Expectations Index," said Hudson Riehle, senior vice president of research and information services for the NRA. "Restaurant operators are optimistic about their sales prospects as well as the direction of the overall economy, which sets the stage for continued industry growth in 2007."
The Restaurant Performance Index is based on the responses to the NRA's Industry Tracking Survey, which is fielded monthly among restaurant operators nationwide. The indicators examined include sales, traffic, labor and capital expenditures. The Index consists of a Current Situation Index and the Expectations Index. To view this month's report in its entirety, click here