Index remained in modest expansion

The US Restaurant Performance Index fell 1.4% in March to 100.7 from 102.1.

  • Current situation -2.6%
  • Expectations -0.2%

"The Current Situation Index was responsible for the bulk of the RPI's decline in March, as sales and customer traffic levels softened from February's solid performance," the release said. "However, restaurant operators still remain uncertain about the direction of the economy in the months ahead, which dampened the Expectations Index as well."

Other highlights:

  • 26% of restaurants reported year-over-year traffic increase
  • 46% of restaurants reported year-over-year traffic decline
  • 15% optimistic about broader economy, 22% expect conditions to worsen
  • Employment up 3.3% y/y compared to 1.9% for broader economy
  • Wholesale food prices -3.0% ytd
  • Menu prices inflation +2.7%

Here's the wonderful rundown the National Restaurant Association does.