The National Restaurant Association’s Restaurant Performance Index rose 0.4% MoM to 100.1 in May 2025, returning to expansion territory for the first time since January as same-store sales and customer traffic improved.

• The Current Situation Index rose 0.9% MoM to 100.4, led by gains in sales (+1.0%), traffic (+1.6%), and labor (+1.3%), though capex slipped slightly (-0.2%).
• The Expectations Index edged down -0.2% to 99.9, with a drop in business conditions sentiment (-0.7%) outweighing modest gains in sales and capex outlooks.

• 52% of operators reported higher YoY same-store sales in May, the highest share since January; 40% saw an increase in customer traffic.
• Only 20% of operators expect economic conditions to improve over the next six months, down sharply from late 2024 optimism.
• Despite macro concerns, 53% of operators plan capital expenditures in the next six months, up from 52% in April.