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Study: More than half of pets overweight
BALTIMORE, March 23 (UPI) -- As consumers reign in spending amid a faltering economy the U.S. restaurant industry is reportedly among the first to feel the pinch.
The Baltimore Sun reported Sunday that locally-owned restaurants are the hardest hit, partly because they lack the marketing and purchasing wherewithal that national chains have.
But even if Americans tighten their belts, they still eat out, said Bob Goldin, executive vice president of Technomic Inc., a food industry consulting and research firm.
"People will go out, and instead of steak, they'll order chicken. Instead of chicken, they'll order pasta," Goldin said. "They won't have a side dish or wine. They'll trade down."
Other businesses are also feeling the pinch. The newspaper said, for example, engaged couples are spending less on wedding flowers, and fewer people are buying pricey artwork.
"I know I'm going to spend (my money) at some local business, so I hope someone else does," Canton Gallery owner Carolyn Wilkinson said.
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