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.
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