Most Restaurant Operators Report Higher Sales for First Time Since January

A majority of restaurant operators reported higher same-store sales in May, pushing the overall restaurant industry back into a period of expansion, according to new data from the National Restaurant Association.

The association’s monthly Restaurant Performance Index rose 0.4 percent in May to 100.1 — just above the 100-level that marks neutral growth. That was driven mainly by a 0.9 percent gain in the Current Situation component of the index, which rose to 100.4, reaching above 100 for the first time since January. The Expectations Index also improved by 0.2 percent to 99.9, indicating that operators were cautiously optimistic about sales gains in the coming months.

The improved performance in May was largely due to an uptick in sales, the association said. For the first time since January, most (52 percent) restaurant operators reported that same-store sales rose between May 2024 and May 2025, up from 45 percent who reported higher year-over-year sales in April. The number who reported lower sales also fell from 41 percent in April to 38 percent in May. Similarly, 40 percent of restaurants noted an increase in customer traffic compared to the year before, a 10 percentage-point jump from April.

The overall positive month has not yet turned around operators’ outlook on the economy. Only 20 percent of survey respondents said they expect economic conditions to improve in the next six months, nearly half the number who thought conditions would improve during the November and December survey periods. That general pessimism may be dampening further investment in their businesses. The number of operators who said they made a capital expenditure of equipment, expansion or remodeling during the last three months was essentially unchanged at 49 percent, while those saying they plan to make a capital expenditure sometime in the next six months rose only 1 point to 53 percent.

The full National Restaurant Association Restaurant Performance Index for May is available here.