Produced with Sage Policy Group, Inc., this monthly report is exclusively created for foodservice distribution leaders to help guide strategic business planning. It provides bite-sized data and analysis of macroeconomic trends and outlook, as well as tracking of the most industry-relevant economic indicators. The monthly format delivers information in a timely manner as new government and private-source data is released, offering unique real-time insight and more accurate short-term predictions.
Key takeaways from the May 2024 issue:
The labor market remained tight so far in 2024, further fueling inflation, and retail spending has slowed. The combination of apparent consumer weakness and higher-for-longer interest rates has made for a disappointing first quarter, from an economist’s perspective. However, consumer spending on foodservice increased at a healthy pace in April and is up 5.5% year over year, outpacing both overall retail spending and economywide inflation. Meanwhile, wholesale food prices and food manufacturer prices have both surged this year.
- Inflation accelerated during the first quarter of 2024 but softened in April.
- Foodservice spending softened over the past three months but is still outpacing overall spending.
- Interest rate cuts still appear unlikely until the end of 2024.
Price:Â Free to all IFDA members as an exclusive member benefit.
