CHICAGO -- Citing improving economic indicators and other signs of resilience in the restaurant industry, Technomic Inc. released revised growth forecasts for 2002.
"While these numbers still fall short of our original projections, there are clear signs of improvement compared to what was originally expected in 2002, following the events of September 11," said Ron Paul, president of Technomic, in a statement released by the company.
Technomic had originally forecast 3.6 percent growth for the foodservice industry overall, but revised that number sharply downward to .2 percent following the terrorist attacks. However, stronger-than-expected sales in the casual dining segment led the company to revise that figure upward to 2.1 percent.
In the limited service/fast-food segment, Technomic is sticking with its September prediction of relatively flat 2 percent growth.