Is sausage a new barometer of the economy?
- Dallas Fed survey notes increase in sausage sales
- Sausage often a way families stretch food budgets
- Other food makers express near-term pessimism
Palmer, Alaska. Meat counter showing a variety of sausage at a Fred Meyer grocery store, a sub of Kroger. The retail chain sells groceries, apparel, furniture, toys, electronics, and housewares. (Photo by: Michael Siluk/UCG/Universal Images Group via Getty Images)
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(NewsNation) — Two sentences in a long report on the state of the economy could be the latest evidence of how Americans are dealing with high food prices.
“As the economy weakens, we are seeing modest growth in our category of dinner sausage,” said a food manufacturer, responding to the latest Texas Manufacturing Outlook Survey from the Federal Reserve Bank of Dallas.
“This category tends to grow when the economy weakens, as sausage is a good protein substitute for higher-priced proteins and can ‘stretch’ consumers’ food budgets,” the respondent added.
The comment is part of the greater report on attitudes in the Dallas Fed’s jurisdiction, which generally pointed to declines in manufacturing activity in August, though the declines were less negative than in July.
Another food maker told the Dallas Fed, “Agriculture is hurting. No farm bill, weather and falling prices for our commodities while input costs increase are putting a big squeeze on our industry.”
Yet another said, “We are preparing for the recession.”
