Restaurant traffic suffers first decline in five years as fear of recession takes hold – MarketWatch
For readers of Tematica Investing and the Monday Morning Kickoff, the fall-off in restaurant traffic is nothing new . . . dropping food prices, rising labor costs, stagnant wages and a consumer trend towards healthier eating options has Americans eating at home.
Traffic at U.S. fast-food restaurant fell 1% in the third quarter to mark the sector’s first traffic decline in five years, the industry tracker NPD Group said Tuesday.Total restaurant visits were also down 1%, hurt by the now familiar list of factors that have weighed this year, ranging from the higher costs of eating out, changing consumer behavior and higher bills for items such as rent and prescriptions.
Source: Restaurant traffic suffers first decline in five years as fear of recession takes hold – MarketWatch
