Restaurant Consumption as an Economic Indicator

Aleksandar M. Velkoski
Additional contact information
Aleksandar M. Velkoski: Marketing Analytics & Research, Rewards Network, Inc, 2 N. Riverside Plaza, Suite 200, Chicago, IL 60606, USA

Tourism Economics, 2015, vol. 21, issue 2, 325-339

Abstract: This study investigates the relationship between restaurant consumption and aggregate macroeconomic activity in the USA. Using a set of 2005 chained US dollar quarterly same store sales data for restaurant consumption from Q1 2007 through Q1 2012, it empirically examines whether restaurant consumption is an aggregate macroeconomic indicator. Two categories of restaurant consumption are examined: non-incentivized spend and incentivized spend. Aggregate macroeconomic activity is measured by gross domestic product. Non-incentivized spend is found to be a procyclical coincident indicator of aggregate macroeconomic activity in the USA. Coincident indicators are comprehensive measures of economic performance that help to confirm whether a nation is prosperous or depressed. The study found no relationship between incentivized spend and aggregate macroeconomic activity.

Keywords: business cycles; consumer behaviour; economic indicators; restaurant consumption (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://journals.sagepub.com/doi/10.5367/te.2013.0349 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sae:toueco:v:21:y:2015:i:2:p:325-339

DOI: 10.5367/te.2013.0349

Access Statistics for this article

More articles in Tourism Economics
Bibliographic data for series maintained by SAGE Publications ().