The restaurant recession turned even more damaging in December

The restaurant recession turned even more damaging in December

The “restaurant recession” has not improved in recent months. After the conclusion of 2016, data gathered through the Restaurant Industry Snapshot shows that restaurant sales fell 4.3% overall, ending the year with its fourth consecutive quarter of declining sales. The last time the restaurant industry suffered declining sales through a complete year was immediately following the Great Recession of 2009. Experts say consumers are struggling with higher costs for rent, prescription drug medications, and increasing debt payments that take priority over eating out. Even though “fine dining” saw increases in same-store-sales, casual dining and subsequent “bar and grill” establishments have been hit the hardest by an entire year of poor performance.

 

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