The National Restaurant Association’s (NRA) comprehensive index of restaurant activity returned above 100 -- a level that represents expansion in the industry -- for the first time in three months. The NRA's Restaurant Performance Index (RPI) improved 0.7% from August to 100.1 in September.
"The September increase in the RPI was fueled by improvements in the same-store sales and customer traffic indicators," said Hudson Riehle, NRA's senior vice president of the Research and Knowledge Group.
Last week, the Conference Board reported its Consumer Confidence Index was declined in October after improving the previous month. The index stands at 39.8, down from 46.4 in September.
Juli says: A return above 100 for the RPI is good news for red meat demand. While consumer remain cautious about the economy -- as reflected by the Consumer Confidence Index -- restaurant owners became more upbeat about their near-term outlook last month.