Produced with Sage Policy Group, Inc., IFDA’s monthly newsletter is exclusively made 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 February 2024 issue:
Prices rose at a significantly faster rate than expected in the first month of the year, which may influence the Fed’s decisions on whether to cut rates in the near term. Retail sales slowed in January, falling almost a full percentage point from December. This decline may be partially attributed to bad weather, however, consumers continue to dine out despite higher food prices. While consumer household finances remain mostly sound, credit card debt reached a record high of $1.13 trillion in the fourth quarter of 2023, with nearly 10% of that debt being seriously delinquent.
- Retail sales were weaker than expected to start the year, but spending on foodservices continued to rise.
- Inflation accelerated in January.
- Interest rate cuts now appear unlikely during the first half of 2024.
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