Aug. 6, 2013, Toronto – A weak economy coupled with a deluge of bad weather around the country has dampened business expectations for restaurant operators, shows a recent industry survey.
The Canadian Restaurant and Foodservices Association’s (CRFA’s) latest Restaurant Outlook Survey shows 31 per cent of restaurateurs expect sales to pick up speed over the next six months, down from 40 per cent the same time last year. In the next six months, 21 per cent of operators plan to hire compared to last year’s 29 per cent.
“One in two of our members is concerned about the economy, and their sales and hiring plans reflect this,” says Garth Whyte, CRFA president and CEO in a news release. “Expectations in our industry are a gauge of the broader economy. Indeed, pundits are forecasting Canada’s economic growth to remain soft in the second half of 2013 with modest job creation ahead.”
Twenty-eight per cent of respondents noted that bad weather had a negative impact on business, compared to 19 per cent in 2012. Despite these challenges, most restaurateurs are planning to hold employment levels and menu prices steady for the next six months.
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