inflation

Restaurant sales are going up. But dining out is on the decline

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new York CNN Business 🇧🇷 Chain restaurants have been reporting growing sales in the third quarter. But more sales don’t mean more customers. In fact, industry watchers are reporting that foot traffic to restaurants has been dropping in recent months. That’s because as inflation eats into consumers’ budgets, many have been cutting back on their … Read more

First on CNN: Next spring the economy will sink into a 1990-style mild recession, Fitch says

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new York CNN Business — Stubborn inflation and the Federal Reserve’s jumbo-sized interest rate hikes will drive the American economy into a 1990-style mild recession starting in the spring, Fitch Ratings warned on Tuesday. In a report obtained first by CNN, Fitch slashed its US growth forecasts for this year and next because of one … Read more