Equipment Purchasing Plans Prove Resilient Despite Cloudy Economic Outlook

Restaurant operators may hold a gloomy outlook on the economy, but they are still investing in new equipment and improvement projects.

The National Restaurant Association’s monthly Restaurant Performance Index for October found that 51 percent of operators made a capital expenditure for equipment, expansion or remodeling during the previous three months — marking the fifth consecutive month above the 50 percent level. Looking ahead, that number could rise, as a majority of operators (54 percent) said they plan to make a capital expenditure sometime in the next six months.

Other findings in the monthly report were more mixed. The overall index rose 0.4 percentage points in October, improving to 99.8 but still below the 100 threshold that signals expansion for the fourth consecutive month. The National Restaurant Association attributed that increase to higher same-store sales, with 48 percent of operators reporting a year-over-year increase compared to 35 percent who experienced a decline. However, customer traffic was net negative for the ninth consecutive month, with only 33 percent reporting a year-over-year increase against 48 percent who saw a decline.

Those findings are in line with Black Box Intelligence’s monthly trends for October. Data from the research firm shows a 0.7 percent growth in same-store sales for the month, the weakest sales growth since February. Further, same-store traffic was down 2 percent, a 0.7-percentage-point decline from September and the softest traffic result since March.

Those challenging conditions are shaping restaurant owners’ economic outlook. According to the National Restaurant Association, 46 percent of operators believe economic conditions will worsen during the next six months compared to only 22 percent who expect an improvement.

The full Restaurant Performance Index report for October 2025 is available here.