Chicago, May 19, 2008, Business Wire – With current economic indicators worsening since its last forecast in January, foodservice consultants Technomic revised their 2008 U.S. foodservice industry nominal growth forecast downward from 3.6 percent to 2.2 percent.

In comments delivered to its Foodservice Planning Program clients in a special Industry Update meeting this morning, Technomic indicated that some chain restaurant operators are still turning in solid growth, but on the whole, limited-service restaurant growth has slowed substantially, and full-service restaurants are facing even greater challenges.

Looking beyond restaurants, however, Technomic noted several segments where foodservice growth remains strong. “Retail hosts, including supermarket foodservice and c-stores are one bright spot,” said Ron Paul, president of Technomic. “We expect this group to enjoy solid 5 percent growth this year—further evidence of our observation that consumers are ‘trading down’ to more economical foodservice alternatives.”

Additional details on Technomic’s current forecast for all major U.S. foodservice segments can be viewed at their web site, www.technomic.com/facts/forecast.html, or by contacting Technomic at 312-876-0004.

Technomic Inc. provides food and foodservice clients with the research, insights and strategic consulting support they need to enhance their business strategies, decisions and results.

Source: Technomic Inc.
Press Contact: Chris Urban, 312-506-3929 or curban@technomic.com.