Author Topic: Strong spending at restaurants gives no sign of recession  (Read 514 times)

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Offline libertybele

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Strong spending at restaurants gives no sign of recession
« on: November 16, 2022, 06:15:31 pm »
This doesn't surprise me.  Think about what it costs to buy groceries at inflated prices.  As an example, I go into the store and buy deli meat, cheese, mayo and bread for the two of us and I'm lucky to get out of the store spending under $40.00.  I can buy subs for that price.  One sub last us for two days and we can buy two or three subs each for that $40.00.  Fresh deli meat only lasts so long and we can order something different rather than eating the same sandwich till the meat is gone.

I haven't priced out buying dinner curbside (we usually have left overs as well) v. fixing a meal for the two of us, but for a single person I think it might be cheaper to pick something up rather than fix a meal with the high cost of groceries. Also, with the price of steaks these days ... some restaurants run specials and it's cheaper.  Definitely not as healthy for sure.   Breakfast for a single person -- eggs @$6.00 carton, bread, juice, coffee, etc., can add up v. picking up a breakfast sandwich from a bagel shop.

Strong spending at restaurants gives no sign of recession


One of the first things Americans do when the economy falls into a funk is to eat out less and cook at home more. But that’s not what they’re doing right now.

Sales at bars and restaurants increased 1.6% in October, rising for the eighth time in the past nine months. Spending also rose again, to an all-time high.

And the increased amount of money being spent on food prepared outside the home is not the result of inflated prices. Far from it.

Restaurant sales are up 14% in the past year, almost twice the 7.7% increase in inflation over the same span. And many large restaurant chains are reporting strong results.......

https://www.marketwatch.com/story/strong-spending-at-restaurants-gives-no-sign-of-recession-11668619180?mod=home-page

Offline mountaineer

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Re: Strong spending at restaurants gives no sign of recession
« Reply #1 on: November 16, 2022, 06:20:01 pm »
We've just completed two trips that cost us quite a bit of money, from airline tickets to hotels to restaurant meals. I told Mr. M on the way home that we now are embarking on an austerity program to make up for it. Maybe all this dining out is an "eat, drink and be merry, for tomorrow we'll be dead broke" kind of thing.
The abnormal is not the normal just because it is prevalent.
Roger Kimball, in a talk at Hillsdale College, 1/29/25

Offline roamer_1

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Re: Strong spending at restaurants gives no sign of recession
« Reply #2 on: November 16, 2022, 09:04:11 pm »
Restaurants are up 14% in a year...

Well DUH. A year ago, many were still under lockdown rules. That they have only recovered by 14% ain't no brag.