Ntect | Industry profile

Food services and drinking places
Industry profile, February 2020

Sections: Description | Pricing | Costs | Demand | Appendix

This page is an industry profile for the Food services and drinking places industry. It provides a general economic overview of recent developments in the industry. This includes information on industry pricing, costs, and demand. Below you will find a description of what type of business establishments are included in this industry. For information on how to best utilize this industry profile please visit our Business Solutions.

Industry Description

Industries in the Food Services and Drinking Places subsector prepare meals, snacks, and beverages to customer order for immediate on-premises and off-premises consumption. There is a wide range of establishments in these industries. Some provide food and drink only, while others provide various combinations of seating space, waiter/waitress services, and incidental amenities, such as limited entertainment. The industries in the subsector are grouped based on the type and level of services provided. The industry groups are Special Food Services, such as food service contractors, caterers, and mobile food services; Drinking Places (Alcoholic Beverages); and Restaurants and Other Eating Places.

This industry description was sourced from the North American Industry Classification System.

Industry Pricing

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As of January 2020, prices in this industry had increased 0.4 percent since the previous quarter.
From January 2019 to January 2020 prices in this industry increased 1.9 percent.
Prices increased 4.6 percent in the five year period starting in January 2015 and ending in January 2020.

+0.4%
From the previous quarter ¹

+1.9%
From the previous year ¹

+4.6%
From five years ago ¹

Industry Costs

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As of January 2020, costs in this industry had 0 percent since the previous quarter.
From January 2019 to January 2020 costs in this industry increased 0.9 percent.
Costs increased 8.9 percent in the five year period starting in January 2015 and ending in January 2020.

0%
From the previous quarter ³

+0.9%
From the previous year ³

+8.9%
From five years ago ³

For details on which industries are included in each sector, click here

The largest cost for this industry is purchases made to the Labor sector. This sector accounts for 44.1% of the industry's overall costs.
From January 2019 to January 2020, the largest change in costs for this industry were costs associated with purchases to the Manufacturing sector. Costs associated with this sector increased 3.4%.

**Major Industry Costs by Sector**
Sector Name	Percentage of Costs	Annual Percent Change ⁴
Labor	44.1%	+1.6%
Manufacturing	16.1%	+3.4%
Real Estate and Rental and Leasing	12.7%	+1.4%
Management of Companies and Enterprises	8.6%	-1.7%
Professional, Scientific, and Technical Services	5%	-1.3%

Industry Demand

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As of July 2019, demand for this industry had increased 0.8 percent since the previous quarter.
From July 2018 to January 2020 costs in this industry decreased 0.8 percent.
Costs increased 8.9 percent in the five year period starting in July 2014 and ending in July 2019.

+0.8%
From the previous quarter ⁴

-0.8%
From the previous year ⁴

+8.9%
From five years ago ⁴