Restaurant Industry Update - Canada
SUMMARY: Canadian foodservice industry performance also reflected the impact of lingering inflation and potential recession, mitigated by improvements in staffing levels.
Indicators of Canadian foodservice sales performance finished 2022 in mixed fashion, up 9.6% over 2021 in restaurants and commercial eateries, but down 8.2% in the retail / grocery segment. Canadian restaurant industry employment performance in Canada closely parallels that in the US, at 6.7% in November 2022. Canada’s gross domestic product sat at 3.1% mid - Q4 2022, continuing a slow down trend that began early in the year. However, unemployment declined at a similar rate through 2022, ending the year at 5.0% (StatisticsCanada)
Q1 2023 Market Update
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