Restaurant Performance Index declined 1.0% in December
The National Restaurant Association’s Restaurant Performance Index (RPI) declined for the first time in five months, as both the current situation and forward-looking indicators took a pause from their recent resurgence. The RPI – a monthly composite index that tracks the health of the U.S. restaurant industry – stood at 100.1 in December, down 1.0% from a level of 101.2 in November.
The RPI’s December decline was largely the result of softer same-store sales and customer traffic readings. Looking ahead, restaurant operators have a generally positive outlook for business conditions, though their exuberance is somewhat more measured compared to the November and December survey periods.
The Current Situation Index, which measures current trends in four industry indicators, stood at 99.2 in December – down 1.2% from a level of 100.3 in November. December’s decline followed four consecutive monthly gains, and saw the Current Situation Index slip back below 100 into contraction territory.
The Expectations Index, which measures restaurant operators’ six-month outlook for four industry indicators, stood at 101.1 – down 0.9% from the previous month. Despite the decline, the RPI’s forward-looking component remained above 100 for the third 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 1/31/2025