6. HRSR 04-04-2011 - Laserfiche WebLink

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Restaurant Industry Analysis Restaurant Industry Sales Turn Positive in 2011 After Three Tough Years WASHINGTON, Feb. 1, 2011 /PRNewswire/ -- Restaurant industry sales are expected to reach a record $604 billion and post positive growth in 2011 after athree-year period of negative real sales growth, according to National Restaurant Association research released today. The Association's 2011 Restaurant Industry Forecast projects an industry sales increase of 3.6 percent over 2010 sales, which equals 1.1 percent in real (inflation-adjusted) terms. The nation's 960,000 restaurants will continue to be strong contributors to the recovery of the nation's economy, with industry sales representing 4 percent of the U.S. gross domestic product and employees comprising nearly 10 percent of the U.S. workforce. Its total economic impact exceeds $1.7 trillion, as every dollar spent in restaurants generates $2.05 spent in the overall economy. Restaurants are the nation's second-largest private sector employer with 12.8 million employees. "As the national economy is slowly improving, the restaurant industry is climbing out of its most challenging period in decades to post positive real sales growth in 2011," said Hudson Riehle, senior vice president of the Research and Knowledge Group for the National Restaurant Association. "As in 2010, restaurant industry job growth is expected to outpace the national economy this year, emphasizing the importance of industry to the nation's economy." "The U.S. restaurant industry is an economic juggernaut whose annual sales are larger than 90 percent of the world's economies - if it were a country, it would rank as the 18th largest economy in the world. While pockets of challenges remain, we are looking forward to a brighter future in 2011," he added. Workforce Outlook The restaurant industry posted modest job growth last year, and that growth is expected to accelerate in 2011. This year, the industry will add jobs at a rate of 2.4 percent, compared with the 1.8 percent expected for the national economy. In the next decade, the industry will add 1.3 million positions. Consumer and Menu Trends According to the National Restaurant Association's 2011 Restaurant Industry Forecast, consumers today spend 49 percent of their food budget in the restaurant community, compared with only 25 percent in 1955. The economic downturn has created a substantial pent-up demand for restaurant services -- more than two out of five consumers say they are not dining out or using takeout as often as they would like -- which positions the restaurant industry for growth in 2011. Facebook, mobile phone applications, and online review sites have become part of many Americans' everyday life. The Restaurant Industry Forecast shows that social media savvy