According to Foodable Labs, an industry-wide restaurant recession is not currently taking place. This conclusion is based on a close analysis of the total Social Restaurant Visits (SRVs) recorded and compared so far for the year of 2016.
It appears that the restaurant industry experienced a five-month consistent decline in SRVs from March 2016 to July 2016. In February, total SRVs were at an all-time high at just under 126 million, but by July, SRVs declined by almost 16 million. However, by August, the figures normalized, jumping back to just over 122 million SRVs, which even surpassed the figure for the month of March, where we first noticed a small decline.
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