National Restaurant Association economist offers mid-year take on consumer trends, labor problems
According to Chad Moutray, economic headwinds and consumer behaviors continue to be a problem — but he still thinks operators should have a glass-half-full attitude.
July 8, 2026
Restaurant margins are shrinking, operators are increasingly understaffed, and the industry faces the dim reality that consumers are pulling back on discretionary spend as inflation continues to squeeze their wallets.
That’s according to data from Chad Moutray, senior vice president for research and knowledge and chief economist at the National Restaurant Association, who presented on the state of the restaurant industry at the recent National Restaurant Association Show in Chicago.
But Moutray said not all hope is lost for restaurants, which have an opportunity to leverage technology and hospitality to beat their competition.
Moutray sat down with NRN’s editor in chief at the Restaurant Show for the latest episode of Take-Away with Sam Oches, and the two dove into the data, with Moutray sharing why he thinks operators should still have a glass-half-full attitude about the future.
In this conversation, you’ll learn more about why:
In this K-shaped economy, the lower-income consumer is unpredictable
A holistic approach to restaurant excellence is your best shot at beating the competition
Labor will continue to put the squeeze on the industry
Technology can speed up and improve the hiring process
This is a glass-half-full industry, and innovation is to thank
In this K-shaped economy, the lower-income consumer is unpredictable
A holistic approach to restaurant excellence is your best shot at beating the competition
Labor will continue to put the squeeze on the industry
Technology can speed up and improve the hiring process
This is a glass-half-full industry, and innovation is to thank
Contact Sam Oches at [email protected].
About the Author
Sam Oches
Editor in Chief
Sam Oches is an award-winning Editorial Director with Informa Connect Foodservice and editor in chief of Nation's Restaurant News and Restaurant Hospitality. A graduate of the E.W. Scripps School of Journalism at Ohio University in Athens, Ohio, Sam previously served as Editorial Director of Food News Media, publisher of QSR and FSR magazines. He’s a past president of the International Foodservice Editorial Council (IFEC) and a past board member with the American Society of Business Publication Editors (ASBPE). His foodservice insights have been shared in national media outlets such as the New York Times, USA Today, National Public Radio, and CNBC. He lives in Columbus, Ohio, with his wife and three kids.
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