IFMA forecasts declining sales growth rate

Nation's Restaurant News, Sept 16, 1996

NEWARK, N.J. -- Citing a slowdown in the creation of new jobs and a projected decrease in disposable income, Technomic Inc. and the International Foodservice Manufacturers Association predicted a mere 1.6-percent increase, adjusted for inflation, in total foodservice sales for 1997, to $335.51 billion, compared with forecasted 1996 sales of $320.68 billion.

In a report released at the IFMA conference here Technomic and IFMA also reduced their growth projections for 1996, calling for a 1.8-percent gain over 1995 levels of $307.34 billion, down from projections of 2.5 percent forecasted at last year's conference.

The 1997 figures would represent the third consecutive year of declining growth in the industry.