Consumers Flock Back To Restaurants Driving August Sales Jump

U.S. restaurant spending accelerated in August, rising 3.7% year-over-year, up from 2.5% in July, as consumers returned to both chain and independent establishments, according to Bank of America’s latest aggregated credit and debit card data. The uptick signals renewed momentum in the sector after several months of slower growth, driven by a broad-based recovery across income levels and regional markets. Chain restaurants narrowed their decline to just 0.9% from a 2.9% drop in July, while independent eat ...