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Fast Food Industry Shows Faster Growth Than U.S. Economy

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According to the reports by New York Post, fast food chains like McDonald’s, Burger King and Wendy’s had almost the same store sales growth which was a little more than 3% as compared to the U.S. economy which was 2.6% this quarter. The Post also mentions that the economy growth of the country hasn’t grown anywhere above 3% in a year from a decade.

The fast food giants, McDonalds and Burger King in fact had the same sale increase of 3.9% in the recent quarter and Wendy’s had 3.2% growth. The industry experts claims that this rise is due to people choosing more fast food restaurants. “When people spend less at higher-priced restaurants and more [money] at fast food, it means they are spending their money more cautiously. On the whole, the restaurant industry is going through hard times,” Mark Kalinowski, a Nomura Instinet analyst, told the Post.

The U.S. economy is heavily benefited by the food industry. The beer industry itself accounts for about $253 billion to the economy according to a 2015 report. Another report in June says that pizza too contributes to the GDP with 41 million Americans eating a slice a day on an average.

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