NRA forecast: '97 sales may reach $320.4B

Nation's Restaurant News, Dec 9, 1996

WASHINGTON - Restaurant sales may hit $320.4 billion in 1997, a 4.2-percent increase over 1996 results, according to the National Restaurant Association's annual sales forecast.

With economic growth expected to trend upward at a slower rate, real sales - or sales adjusted for inflation - should rise 1.4 percent compared with 1.7 percent in 1996, the forecast reported.

The NRA expects that menu prices will grow 2.7 percent, higher than the 2.4 percent of 1996 but below the nation's overall inflation rate - which is consistent with a several-year trend.

Each of the two dominant dining segments, fast food and table service, is expected to enjoy higher volumes. Fast-food restaurant sales again will outpace the industry average for real growth, rising 2.5 percent, to $103.5 billion. The table-service segment may see a 1.3-percent gain, to $104.4 billion.