NRA: U.S. restaurant climate toughest since '91

"This is the most challenging environment for restaurant operators since 1991,"  said Hudson Riehle, NRA chief economist. "Depending on how consumer spending proceeds in the fourth quarter, it could be the most challenging environment since the early 1980s."

 

So far in 2008, consumers are still spending about half of their food budget at restaurants; however, it appears that spending has been at lower-cost restaurants.

 

Read also, Beef costs likely to force restaurants price hikes and Uncertain economy dampens industry outlook.