Analysts predict a national restaurant recession
A recent financial study is suggesting that a national restaurant decline may be on the way in the coming months.
We reached out to local restaurant owners and residents to see if the forecasted restaurant recession has hit our community. Tony Marchese, business partner at Trio in Palm Springs, says this summer has been better than expected for him and other local restaurants.
National consumer spending has been especially weak during this time of the year, but locals say they are dining at restaurants more often than before.
As the minimum wage continues to increase in the upcoming year, it is likely that restaurant prices will go up, but this doesn’t seem to stop locals here in the desert. La Quinta resident, Carlos Grandes said, “People who are used to going out, at least on the weekends, are still going to go out. I don’t think anything is going to stop them from going out.”
If the expected restaurant recession does hit, locals and restaurant owners are ready to work together to support the local economy.
“I think if we all focus on our businesses and do what we know best, we will be fine,” said Marchese. Residents are doing what they can to make sure that they keep the economy up during these summer months. “Any chance we get, we eat out–we have to keep the economy here in the Valley good,” said Grandes.
