Americans are going out to eat again.
Restaurant and bar sales just posted their strongest growth in over a year — up 1.0% on a three-month moving average basis through October.
This isn't just a data point. It's a behavioral signal.
When people feel secure enough to spend on experiences rather than hoard cash or pay down debt, it tells you something about their confidence in what's ahead. Not their predictions. Their gut.
Consumer spending is 70% of the economy. And discretionary spending — the stuff you don't need but choose to buy anyway — is the canary in the coal mine.
Right now, that canary is singing.
Restaurant and bar sales just posted their strongest growth in over a year — up 1.0% on a three-month moving average basis through October.
This isn't just a data point. It's a behavioral signal.
When people feel secure enough to spend on experiences rather than hoard cash or pay down debt, it tells you something about their confidence in what's ahead. Not their predictions. Their gut.
Consumer spending is 70% of the economy. And discretionary spending — the stuff you don't need but choose to buy anyway — is the canary in the coal mine.
Right now, that canary is singing.