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 March 2024 issue:
Is the economy cooling off in early 2024? In the first few months of the year, inflation accelerated, retail sales fell, and unemployment rates increased. Despite these headwinds, consumers continue to dine out at a strong rate amid rising menu prices, and the labor market is loosening since the start of last year, when there were two open jobs for each unemployed person in the US. However, the outlook for the economy is less optimistic than in 2023, with rate cuts unlikely in the first half of 2024.
- Inflation was faster than expected during the first two months of 2024.
- Retail sales fell sharply in January and only partially rebounded in February.
- Interest rate cuts continue to appear unlikely during the first half of 2024.
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