In a sign that the restaurant industry's recovery will be even more drawn out, last month sales inched up at the slowest pace since the economy began to reopen from the lockdowns.
Overall, eating and drinking places registered sales of $55.6 billion on a seasonally-adjusted basis in September, according to preliminary data from the US Census Bureau. Those sales figures were up 2.1% from August's seasonally-adjusted volume of $54.5 billion.
This would be a substantial increase in regular times, but it was approximately half of the gains registered in July and August—in both dollar volume and percentage terms. Overall, eating and drinking place sales in September were 15% below, or nearly $10 billion, their pre-coronavirus levels in January and February.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
