More Mixed Indicators Are Still Far Better Than Down, Down, Down
H/T CR:
Restaurant Industry Outlook Improved as the
Restaurant Performance Index Rose for the Third Consecutive Month
Operators’ economic outlook turned positive; Capital spending plans hit a 9-month high
April 30, 2009
(Washington, D.C.) The outlook for the restaurant industry improved in March, as the National Restaurant Association’s comprehensive index of restaurant activity rose for the third consecutive month. The Association’s Restaurant Performance Index (RPI) - a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry - stood at 97.7 in March, up 0.2 percent from February and 1.3 percent during the last three months.
“Although the RPI remained below 100 for the 17th consecutive month, which signals contraction, there are clear signs of improvement,” said Hudson Riehle, senior vice president of Research and Information Services for the Association. “Restaurant operators reported a positive six-month economic outlook for the first time in 18 months, and capital spending plans rose to a 9-month high.” ...
Calculated Risk:
Hotel Occupancy Off 8.4 Percent
CLICK FOR FULL SIZE (Calculated Risk)
CR Notes: This graph shows the YoY change in the occupancy rate (3 week trailing average). The three week average is off 9.6% from the same period in 2008. The average daily rate is down 6.1%, so RevPAR is off 14.1% from the same week last year.
It remains to be seen how the impact of Swine Flu, whether it be overreaction, or indeed an outright pandemic, has on these on other telling indicators.
Restaurant Industry Outlook Improved as the
Restaurant Performance Index Rose for the Third Consecutive Month
Operators’ economic outlook turned positive; Capital spending plans hit a 9-month high
April 30, 2009
(Washington, D.C.) The outlook for the restaurant industry improved in March, as the National Restaurant Association’s comprehensive index of restaurant activity rose for the third consecutive month. The Association’s Restaurant Performance Index (RPI) - a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry - stood at 97.7 in March, up 0.2 percent from February and 1.3 percent during the last three months.
“Although the RPI remained below 100 for the 17th consecutive month, which signals contraction, there are clear signs of improvement,” said Hudson Riehle, senior vice president of Research and Information Services for the Association. “Restaurant operators reported a positive six-month economic outlook for the first time in 18 months, and capital spending plans rose to a 9-month high.” ...
Calculated Risk:
Hotel Occupancy Off 8.4 Percent
CLICK FOR FULL SIZE (Calculated Risk)
CR Notes: This graph shows the YoY change in the occupancy rate (3 week trailing average). The three week average is off 9.6% from the same period in 2008. The average daily rate is down 6.1%, so RevPAR is off 14.1% from the same week last year.
It remains to be seen how the impact of Swine Flu, whether it be overreaction, or indeed an outright pandemic, has on these on other telling indicators.