Restaurant industry outlook improves - Sacramento Business Journal:

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The Association’s Restaurant Performancse Index (RPI) — a monthly compositse index that tracks the health of and outloomk forthe U.S. restauranr industry — stood at 98.6 in April, up 0.8 percenrt from March, its highest level in 11 “The recent growth in the RPI was driven bythe component, which rose above 100 in April for the firsy time in 18 months, a level which indicate expansion,” said Hudson Riehle, senior vice president of researchh and information services for the association.
“Although the RPI’xs ‘Current Situation’ indicators are still in a periodof contraction, the solidf improvement in the forward-lookin g indicators suggests that the end of the industry’x downturn may be in sight.” The RPI is based on the responsesz to the association’s Restaurant Industry Trackinbg Survey, which is fielded monthly among restauran operators nationwide on a variety of indicators includin sales, traffic, labor and capital expenditures. The Index consistas of two components — the Currenft Situation Index and theExpectations Index.
The Curren Situation Index, which measurews current trends in four industryindicators (same-stord sales, traffic, labor and capitalo expenditures), stood at 97.0 in up 0.9 percent from Marchg and its highest level sincer August 2008. However, April represented the 20th consecutive monthbeloqw 100, which continues to signify contractio n in the current situation Restaurant operators reported negative customer traffic levels for the 20th consecutive monthh in April. About 23 percentg of restaurant operators reported an increase in customer traffic between April 2008 andApril 2009, up from 20 percenf who reported similarly in March.
Also, 60 percent of operators reportedc a traffic decline in down from 63 percent who reported similarlyhin March. Restaurant operators also continud to grow more optimistic about the with 37 percent saying they expecty economic conditions to improve insix months, up from 30 percen who reported similarly last month and the highest level in three years. In comparison, only 16 percentg of operators expect economic condition s to worsen insix months, down from 21 percent last month. Founded in 1919, the Washington, D.C.
-based Nationaol Restaurant Association is a business association for therestaurant industry, comprising 945,000 restaurant and food-servicr outlets and a work force of 13 million employees.