Sep. 18 at 8:51 PM
Census: Eating & drinking places registered total sales of
$90.8B on a s/adj'd basis in August [up +0.3% m/m from July’s downward-revised sales volume of
$90.5B].
August was the 6th consecutive month of sales gains, w/ total restaurant spending rising +4.0% during this period. In comparison, total sales in non-restaurant retail sectors were up +1.0% during the last 6 months.
In inflation-adj'd terms, eating & drinking place sales were flat in August m/m, as the 0.3% nominal sales gain was matched by a 0.3% increase in menu prices. However, up +1.8% y/y.
National Restaurant Association’s measure of pent-up demand sees consumers will likely continue to visit restaurants in the coming months – as long as they have the financial wherewithal to do so.
BLS: Households w/ income above
$100K are responsible for nearly 6 in 10 dollars spent in restaurants.
$PBJ $PEJ $EATZ $MCD $QSR