The National Restaurant Association’s monthly Restaurant Performance Index (RPI) rose 0.2 percent in November as operators reported positive sales and their highest level of optimism for business conditions since August 2021.
The improvement brought the RPI up to 104.8 for November. The RPI is a composite index that tracks the health and outlook for the U.S. restaurant industry according to the current situation and expectations of restaurant operators. A value above 100 indicates that the industry is experiencing a period of growth, while a value below 100 indicates contraction.
The Current Situation Index was 105.4, an increase of 0.2 percent, in November as 83 percent of operators experienced positive same-store sales and 75 percent saw higher customer traffic compared to November 2020. Meanwhile, the Expectations Index rose 0.3 percent to 104.1, signaling the belief among operators that sales will continue to rise in the coming months.
The positive outlook continues to push operators to invest back into their restaurants. In November, 70 percent of operators said they made a capital expenditure for equipment, expansion or remodeling sometime in the past three months – marking the eighth consecutive month with readings above 60 percent. The future looks even better, with 75 percent of operators planning to make a capital expenditure in the next six months.
To read the full RPI report, please click here.