The term "Restaurant Recession" has been coined in recent months as the industry continues with traffic challenges. Recent data from the New York Fed suggests the consumer may be more stressed than originally thought. Credit card delinquencies in the U.S. over 90 days has risen to its highest level since the first quarter of 2012 (think tail end of the Great Recession). And in recent history, credit card delinquencies have not been this high on an up slope without a recession.
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