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Chris Elliott

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Foodservice growth will slow in 2017

Given the strength of sales in June, July and September, foodservice sales ended the year on a stronger-than-expected note.  According to Restaurants Canada’s latest long term forecast, commercial foodservice sales are forecasted to climb by 5.3% in 2017 following a similar gain in 2016.  It now looks like sales will come in much higher due to robust consumer spending in British Columbia, Quebec, Ontario and Manitoba.   What’s in store for 2017 Looking ahead, Canada’s economy is forecast to improve, growing from 1.4% in 2016 to 2.1% in 2017. This expansion is due to greater business investment and government spending. While employment and disposable income will also rise, consumers will take a breather after several years of strong gains. Retail sales are expected to slow from 3.6% in 2016 to 3.0% in 2017. Consumers have been on a spending spree in recent years, which has pushed the household debt to a…