Lack of Economic Growth Evident as Mid-market Restaurant264 views 2012-10-16 03:02
In the article “Steak Houses Struggle as Big Spenders Start to Feel the Pinch,” Lombardi notes that in a growing U.S. economy, when consumer spending goes up, consumers are more inclined to go to a good restaurant, buy a steak dinner, purchase that better smelling cologne, and buy the better looking car.
With evidence of luxury goods and service providers getting
hit by the economic slowdown alongside mid-market restaurants, Lombardi states
that it’s not only the middle class that has been squeezed but the high-income
earners as well.
Lombardi believes the pullback in sales at fine-dining
restaurants can be attributed to higher-income earners feeling less confident
about the economy and, thus, holding back on their spending.
“The pockets of the average American in the U.S.
economy have been getting emptier each passing day in this post-recession
recovery,” says Lombardi.
The Profit Confidential lead contributor concludes, “Until the average American can retain enough disposable income to raise consumer spending, the U.S. economy will not see any economic growth.”
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Michael Lombardi, MBA, the lead Profit Confidential editorial contributor, has just released his most recent update of Critical Warning Number Six, a breakthrough video with Lombardi’s current predictions for the U.S. economy, stock market, U.S. dollar, euro, interest rates and inflation. To see the video, visit .