Restaurant Performance Index fell 2.3% in February
The National Restaurant Association’s Restaurant Performance Index (RPI) fell sharply in February, due to dampened same-store sales and a deterioration in operators’ outlook for future business conditions. The RPI – a monthly composite index that tracks the health of the U.S. restaurant industry – stood at 98.8 in February, down 2.3% from a level of 101.1 in January.
A majority of restaurant operators reported lower same-store sales and customer traffic in February, which was a sharp reversal from the more positive readings in January. Looking forward, restaurant operators are increasingly uncertain about sales growth and the economy in the coming months.
The Current Situation Index, which measures current trends in four industry indicators, stood at 96.9 in February – down 3.5% from a level of 100.5 in January. All four current situation metrics declined in February, led by sharp pullbacks in the same-store sales and customer traffic indicators.
The Expectations Index, which measures restaurant operators’ six-month outlook for four industry indicators, stood at 100.6 – down 1.1% from the previous month. Despite the decline, the RPI’s forward-looking component remained above 100 for the fifth consecutive month.
RPI Methodology
The National Restaurant Association's Restaurant Performance Index (RPI) is a monthly composite index that tracks the health of the U.S. restaurant industry. Launched in 2002, the RPI is released on the last business day of each month.
The RPI is measured in relation to a neutral level of 100. Index values above 100 indicate that key industry indicators are in a period of expansion, while index values below 100 represent a period of contraction for key industry indicators. The Index consists of two components — the Current Situation Index, which measures current trends in four industry indicators (same-store sales, traffic, labor and capital expenditures), and the Expectations Index, which measures restaurant operators’ six-month outlook for four industry indicators (same-store sales, employees, capital expenditures and business conditions).
The RPI is based on the responses to the National Restaurant Association’s Restaurant Industry Tracking Survey, which is fielded monthly among restaurant operators nationwide on a variety of indicators including sales, traffic, labor and capital expenditures. Restaurant operators interested in participating in the tracking survey: contact Bruce Grindy.
Updated 3/31/2025