The NRA's Restaurant Performance Index, a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry, stood at 101.7 in July, down 0.4% from a record-level of 102.0 in June.
However, the NRA noted that July represented the 27th consecutive month above 100, which represents expansion in the association's composite index of eight key industry indicators.
"Although the Restaurant Performance Index registered a modest decline in July, the underlying indicators remained in a positive position," said Hudson Riehle, senior vice president of Research and Information Services for the Association. "Operators reported positive same-store sales and customer traffic levels in July, and they are optimistic for continued growth in the months ahead."
(Read about Technomic's expectations in Friday's edition of ID Report.)