TORONTO — Good news for the foodservice industry has surfaced — the Canadian Restaurant and Foodservices Association (CRFA) has updated its 2014 forecast on restaurant sales in a new report, which predicts growth of 4.7 per cent, as compared to the previously projected 3.6 per cent.
“The Canadian economy is turning a corner, but rising food and labour costs as well as competition for the food dollar, will continue to make this a challenging environment for restaurant operators,” said Garth Whyte, president and CEO, CRFA. “What’s clear from this forecast, however, is that our industry will continue to create jobs and investment in communities across the country in 2014.”
Each province is predicted to see higher restaurant sales, with Alberta, Saskatchewan and Manitoba leading the charge with a forecast of more than five-per-cent growth in each province.
