Monthly sales at restaurants exceeded grocery stores sales for the first time on record, the National Restaurant Association noted. In his latest Economist's Notebook commentary, the National Restaurant Association's Chief Economist Bruce Grindy breaks down industry sales trends:
For the first time on record in December, monthly sales at restaurants exceeded grocery stores sales, according to data from the U.S. Census Bureau. This development was hinted at through preliminary data releases in recent months, but was officially confirmed by today's annual benchmark of Census data.