The National Restaurant Association’s Restaurant Performance Index was essentially unchanged in March, rising just 0.1% MoM to 98.9, remaining below the neutral level of 100.

• The Current Situation Index rose 2.0% MoM to 98.9, with modest improvements in same-store sales and customer traffic.
• The Expectations Index fell -1.8% MoM to 98.8, its second consecutive sharp decline.
• The indexes tracking expectations for same-store sales and business conditions were both down by more than -2% on a monthly basis.
• Despite gains in the present indicators, both components remained in contraction territory.

• The overall outlook among restaurant operators grew more pessimistic, particularly regarding future sales and broader economic conditions.