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Americans Continue to Cut Spending on Eating Out

While President Obama urges the public to get out and spend to help stimulate the economy, survey results show that America’s aren’t yet ready to do so. Specific findings related to foodservice:
•    Three quarters of Americans (74%) say it is likely that they will decrease spending on eating out in restaurants and reduce their spending on entertainment. This is up from November when 65 percent said they would decrease spending on eating out and 64 percent would reduce entertainment spending;
•    Two-thirds of Americans (65%) say it is not likely they will take a vacation away from home lasting longer than a week while 35 percent say they will vacation away from home. In November, three in ten (29%) Americans said they would be likely to take a trip;
•    Only one in five Americans (21%) say it is likely they will have more money to spend the way they want in the next six months, which is slightly down from 25 percent in November.

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