Technomic: Gloomy food service forecast for 2009

by MEAT&POULTRY Staff
Share This:

NEWPORT BEACH, CA. – Food service consultancy Technomic revised its 2009 U.S. food service industry nominal growth forecast downward to -2.2% citing further contraction in the economy, a continuing slowdown in consumer spending and accelerating job losses. The firm expects 2009 will be the worst year for food service since it began tracking performance in 1972.

The firm acknowledged that lower commodity prices will help operators reduce the need to take price increases in this tough economic environment, in comments delivered to clients at its Foodservice Planning Program meeting. However, even if the economy were to improve quickly in the second half of 2009, real growth is expected to remain negative, said Joe Pawlak, Technomic vice president.

For more details on Technomic’s current forecast for all major U.S. foodservice segments visit, www.technomic.com/facts/forecast.html.

To post your comments on this story, click here: meatpoultry@sosland.com.

Comment on this Article
We welcome your thoughtful comments. Please comply with our Community rules.

 

 


The views expressed in the comments section of Meat and Poultry News do not reflect those of Meat and Poultry News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.