2011: A Mid-Year Review for Restaurant Firms

Abstract

The restaurant industry has shown a steady growth since its recent recessionary trough in 2008-2009. The industry's sales were estimated at $583.2 billion in 2010 according to the National Restaurant Association (NRA), a 2.5 percent increase (in current dollars) relative to the 2009 figure. Per the latest NRA report, the outlook for the restaurant industry appears even brighter for 2011. Experts predict the industry to grow steadily with improving economic climate, generating more jobs and income. Total annual restaurant industry sales are expected to reach a record high of $604.2 billion for the first time in the history of the US restaurant sector, a 3.6 percent increase (or 1.1 percent in inflation-adjusted terms) over 2010 annual sales. Such growth should be a welcome reprieve after the industry's recent recessionary trends.