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Restaurant industry sales turn positive in 2011 after three tough years
Today's Restaurant Internet Exclusive
Wednesday, 18 May 2011 15:38
Restaurant_HomeWashington, D.C. - Restaurant industry sales are expected to reach a record $604 billion and post positive growth in 2011 after a three-year period of negative real sales growth, according to National Restaurant Association research released recently. The Association’s 2011 Restaurant Industry Forecast projects an industry sales increase of 3.6 percent over 2010 sales, which equals 1.1 percent in real (inflation-adjusted) terms.

The nation’s 960,000 restaurants will continue to be strong contributors to the recovery of the nation’s economy, with industry sales representing 4 percent of the U.S. gross domestic product and employees comprising nearly 10 percent of the U.S. workforce. Its total economic impact exceeds $1.7 trillion, as every dollar spent in restaurants generates $2.05 spent in the overall economy. Restaurants are the nation’s second-largest private sector employer with 12.8 million employees.

“As the national economy is slowly improving, the restaurant industry is climbing out of its most challenging period in decades to post positive real sales growth in 2011,” said Hudson Riehle, senior vice president of the Research and Knowledge Group for the National Restaurant Association. “As in 2010, restaurant industry job growth is expected to outpace the national economy this year, emphasizing the importance of industry to the nation’s economy.”
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