Positive results impact outlook for capital expenditures among foodservice operators.
The National Restaurant Association's Restaurant Performance Index (RPI) hit 102.1 in May. In addition to being a 0.4 percent increase over April, this represents the RPI's highest level in more than 2 years.
"Positive sales results fueled the May increase in the RPI, as nearly two-thirds of restaurant operators said their same-store sales rose above year-ago levels," said Hudson Riehle, senior vice president of the Research and Knowledge Group for the Association. "In addition, restaurant operators are increasingly optimistic about continued sales gains in the months ahead, a sentiment that is also showing up in their capital expenditure plans."
The Current Situation Index, which measures current trends in four industry indicators (same-store sales, traffic, labor and capital expenditures), stood at 102.0 in May – up 0.7 percent from April. Key data points from the May Current Situation Index include:
The Expectations Index, which measures restaurant operators' six-month outlook for four industry indicators (same-store sales, employees, capital expenditures and business conditions), stood at 102.2 in May — unchanged from April's level. Key data points from the expectations index include: