Restaurant Performance Index remained steady in March
The National Restaurant Association’s Restaurant Performance Index (RPI) was essentially unchanged in March, as improvements in the current situation indicators were offset by a deterioration in restaurant operators’ outlook for business conditions. The RPI – a monthly composite index that tracks the health of the U.S. restaurant industry – stood at 98.9 in March, up 0.1% from a level of 98.8 in February.
Restaurant operators reported mixed same-store sales results in March, which was a significant improvement from February’s dampened readings. However, operators’ outlook for both sales and the economy became decidedly more pessimistic compared to recent months.
The Current Situation Index, which measures current trends in four industry indicators, stood at 98.9 in March – up 2.0% from a level of 96.9 in February. Restaurant operators’ reporting of their same-store sales and customer traffic levels improved between February and March, though both indicators remained in contraction territory.
The Expectations Index, which measures restaurant operators’ six-month outlook for four industry indicators, stood at 98.8 – down 1.8% from the previous month. That represented the second consecutive sharp decline in the RPI’s forward-looking component, which illustrates the rising degree of uncertainty about business conditions.
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 4/30/2025