New data from the National Restaurant Association shows that restaurant sales in December tapered off in December – to $88.3 billion – compared to November, which generated $89.2 billion. The association reports that October and November sales were $1.6 billion lower than preliminary numbers shared by the U.S. Census Bureau.
This drop is a bit of a shift from months prior when industry sales were largely lifted by higher menu prices. Adjusted for inflation, sales at eating and drinking establishments in December represented the lowest monthly volume since March. The shift may indicate that consumers have reached their pricing threshold as they continue to manage their own pressures.