New, reduced growth estimates were released by Technomic, Inc., Chicago-based consultant, during the International Foodservice Manufacturers Association (IFMA) annual Forecast and Outlook Seminars, approximately two weeks after the terrorist attacks on America.
These are preliminary figures and will be revised again for a more definitive assessment of the economic impact.
For 2002, the entire foodservice industry will be flat (a 0.2 percent gain, or considerably less than 1 percent)?for the first time in a decade?according to Technomic. This is as compared with an originally anticipated gain of 3.6 percent, or a total of $411.8 billion. For distributors, the original $170 billion in sales expected this year has been trimmed by $3 billion, to $167 billion, and will not climb higher in 2002.