Report: Casual chains take hit from higher payroll tax

03/20/2013 | Bloomberg

Sales at casual restaurant chains fell 5.4% in February, a sign that consumers' higher payroll taxes may have driven a decline in dining out, according to the Knapp-Track Index of monthly restaurant sales. The drop capped the first three-month period with consecutive declines in almost three years, as consumers grew less confident. "People are acting fearfully, or you could almost say rationally in a way," said analyst Larry Miller.

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