Restaurant Performance Index correlates S&P 500 (Update 1)

Restaurant Performance Index (RPI) – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry. The RPI is based on the responses to the National Restaurant Association’s Restaurant Industry Tracking Survey, which is fielded monthly among restaurant operators nationwide on a variety of indicators including sales, traffic, labor and capital expenditures.

I can't help myself but draw a correlation between the RPI and S&P 500. The S&P came out of the 2002-2003 triple bottom during the PRI crossover from contraction to expansion. The S&P peaked during the crossover from expansion to contraction in 2007. Is the RPI becoming the new leading indicator of the US stock market?



edited on 10 Dec 2010: the link of the restaurant.org is updated. And I'm going to check out the recent trend and see if we see something more interesting coming out of this. :>

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