Recession red flags may be cropping up in the stock and bond markets as the trade war rages on. But it seems the American consumer hasn’t gotten the message — at least not yet.
This holds particularly true when it comes to spending at restaurants. Sales at eating and drinking establishments are up more than 4% this year, according to data from the U.S. Census Bureau, surpassing grocery sales at just 3% year-over-year growth.
The National Restaurant Association projects overall industry sales will hit a high of $863 billion in 2019, up 3.6% from last year.
Two big factors helping to bolster consumer sentiment — a strong jobs market and tax cuts.