Restaurant operators reported positive same-store sales for the tenth consecutive month; Operators' outlook for capital spending at its highest level in more than four years.
The National Restaurant Association's Restaurant Performance Index reached 102.2 in March, up 0.3 percent from February. This was the fifth consecutive month that the RPI exceeded 100, signaling expansion in the index of key industry economic indicators.
The RPI measures the health of the restaurant industry in relation to a steady-state level of 100. Index values of more than 100 indicate that key industry indicators are in a period of expansion while index values of less than 100 represent a period of contraction for key industry indicators. The index consists of two components – the Current Situation Index and the Expectations Index.
The Current Situation Index, which measures current trends in same-store sales, traffic, labor and capital expenditures, stood at 102.0 in March – up 0.1 percent from February's level of 101.9.
Key factors from the March Current Situation Index include:
The Expectations Index, which measures restaurant operators' six-month outlook for same-store sales, employees, capital expenditures and business conditions, stood at 102.4 in March – up 0.4 percent from February.
Key data points from the Expectations Index include:
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