Radio Programs
Back To Listings

5-20-10 Focus – Consumer Confidence Rising

 
Click here to listen or download.


Hi this is Nebraska
Farm Bureau's Ag News Now Radio Service, I’m Tina Henderson.



 



Now here is a
suggested lead-in to our focus program.



 



The
latest economic indicators suggest people are eating out more and that’s good
news for farmers and ranchers. Farm Bureau’s Tina Henderson tells us more in
the following report.



The
report runs 154.



 



Now for our report,
on the count in 3...2...1...



 



WHEN
WAS THE LAST TIME YOU HAD A STEAK FOR DINNER OR WENT OUT TO A RESTAURANT?  RECENT ECONOMIC INDICATORS SUGGEST IT’S MORE
LIKELY TO HAVE HAPPENED RECENTLY THAN IN QUITE A WHILE.



 



JOHN
ANDERSON (AFBF ECONOMIST):       IT HAS
FELT LIKE WE’VE TURNED A CORNER IN THE LAST FEW WEEKS BUT NOW WE’RE STARTING TO
GET SOME HARD DATA THAT STARTS TO CONFIRM THAT. 
ONE OF THE THINGS THAT HAS GOTTEN A LOT OF ATTENTION IN THE LAST SEVERAL
DAYS IS THE NATIONAL RESTAURANT ASSOCIATIONS RESTAURANT PERFORMANCE INDEX.



 



THAT
INDEX TRACKS THE OUTLOOK FOR THE RESTAURANT INDUSTRY.  FOR THE FIRST TIME SINCE SEPTEMBER OF 2007 IT
SHOWED THAT RESTAURANT OPERATORS EXPECT THE SECTOR TO GROW.



 



ANDERSON:
      IF YOU LOOK AT THE FIRST QUARTER OF
2010, SPENDING ON THE HOSPITALITY INDUSTRY, WHAT THEY CALL FOOD SERVICE AND
ACCOMODATIONS, INCREASED BY OVER 8 PERCENT FROM THE LAST QUARTER OF 2009.  THIS IS THE FIRST TIME THAT WE HAD A
QUARTER-TO-QUARTER INCREASE IN HOSPITALITY INDUSTRY SPENDING SINCE EARLY
2008.  SO AGAIN, SOME INDICATION THAT
CONSUMERS ARE COMING BACK. PEOPLE ARE GOING TO EAT OUT.  MORE MEETINGS ARE GOING ON, THOSE SORTS OF
THINGS THAT ENCOURAGE SPENDING AWAY FROM HOME.



 



ANDERSON
SAYS THAT AFTER TWO YEARS OF BASICALLY LOSING MONEY ON EVERY ANIMAL THEY SOLD,
THIS IS WELCOME NEWS FOR FARMERS AND RANCHERS.



 



ANDERSON:
      FOOD IS A STAPLE.  YOU EAT NO MATTER WHAT THE ECONOMY IS DOING,
BUT YOU DON’T ALWAYS EAT A NEW YORK STRIP, RIGHT?  YOU CAN SELECT DOWN TO A LOT LOWER-VALUE
PRODUCTS AND SO WITH MEAT IT’S VERY IMPORTANT THAT WE HAVE STRONG DEMAND. IT IS
IMPORTANT FOR DAIRY AS WELL. THAT’S SOMETHING WE OVERLOOK A LOT OF TIMES BECAUSE
WE DO THINK OF MILK AS BEING A STAPLE. BUT THINK ABOUT SOMETHING LIKE
CHEESE.  PEOPLE EAT A LOT OF IT IN
RESTAURANTS.  THINK OF PIZZA.  SO WHEN THE ECONOMY IS WEAK AND PEOPLE ARE
EATING OUT LESS, THAT’S SOMETHING THAT HAS A FAIRLY BIG IMPACT ON THE DAIRY
INDUSTRY.



Visit
Nebraska Farm Bureau’s website to get additional agriculture news you need at www.nefb.org. Reporting for Nebraska Farm Bureau I’m Tina
Henderson.



 



Thanks
for listening!