Still Dining Out?

As I've been working on our annual economic forecast for our January issue, I've come across some interesting data regarding dining out.

In 2006, the state saw 93 new establishments added in the accommodation and food services sector, the majority of which were new dining establishments. Add to it that in 2007, there were some 2,000 new jobs also created in the same area, and it's easy to see that over the past few years we're eating out more than ever. All this, despite the increased interest in eating better and healthier, and the vast attention to home-cooking -- see the new-found popularity of Rachel Ray and others.

Of course, this went hand-in-hand with the strong economy and prosperity of the past few years. However, as things seem to be getting tighter fiscally, I wonder if the trend will continue to expand (just like the American waistline), or if we'll be tightening our belts, both literally and figuratively.

Personally, I think it's more likely that retail will be effected before the restaurant business feels the pinch of tougher financial times -- people may hold off buying that new TV or living room set, but they're only going to hold off on dinner for so long. Besides, it's easier to swallow a $100 dinner check than a $1,000 receipt from Buy More.