The NRA Restaurant Performance Index (RPI), a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry, stood at 101.2 in October, down 0.3% from its September level. However, the RPI remained above 100 for the 42nd consecutive month, which represents expansion in the Association's composite index of eight key industry indicators.
"Despite the modest October decline in the overall index, the outlook for the industry remains positive, bolstered by the second consecutive monthly gain in the Expectations Index," said Hudson Riehle, senior vice president of research and information services. "Restaurant operators are optimistic about their sales prospects as well as the direction of the overall economy, which sets the stage for continued industry growth in 2007."
The October decline in the Restaurant Performance Index was the result of a moderate drop in the current situation component of the index. The Current Situation Index, which measures current trends in four industry indicators (same-store sales, traffic, labor and capital expenditures), stood at 100.4 in October