Restaurant Performance Index increased 0.9% in January
The National Restaurant Association’s Restaurant Performance Index (RPI) registered a healthy increase in January, as restaurant operators reported solid same-store sales and customer traffic readings. The RPI – a monthly composite index that tracks the health of the U.S. restaurant industry – stood at 102.8 in January, up 0.9% from December and the strongest monthly increase in 15 months.
A majority of restaurant operators said their same-store sales and customer traffic levels were higher than January 2022 readings, which was a month that saw business conditions negatively impacted by the omicron variant.
The Current Situation Index, which measures current trends in four industry indicators, stood at 103.0 in January – up 1.3% from a level of 101.7 in December. January represented the second consecutive increase in the Current Situation Index – and the strongest monthly gain since February 2022.
The Expectations Index, which measures restaurant operators’ six-month outlook for four industry indicators, stood at 102.6 – up 0.6% from the previous month. A majority of restaurant operators have a positive outlook for sales in six months, which boosted the Expectations Index to its highest level in 10 months.
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.
For more detailed analysis of the RPI and Industry Tracking Survey data, see Restaurant TrendMapper.
Updated 2/28/2023