Fewer diners go out to eat

You can’t tell it driving by the bustling parking lots at many Dayton suburban restaurants, but consumers aren’t going out to eat as much.

A new survey by the Ohio Restaurant Association and the Cleveland Research Company found restaurant owners saw weaker consumer demand in January after a strong fourth quarter that ended in December. That increase was due in part to the mild winter weather.

Still, Ohio restaurants brought in almost $1 billion in sales last year.

Restaurant owners who were surveyed said they are optimistic in 2017, and expect a 4 percent increase in same-store sales, compared tot he 3 percent increase last year. Auto-loan collapse?

We reported last week that auto dealers expect sales to be flat this year after seven-straight years of increased sales.

New vehicle sales reached more than 17.55 million — just surpassing 2015’s already record-breaking numbers of 17.5 million, according to Autodata Corp. The auto industry continues to play an integral role in Ohio’s economy, accounting for more than $31 billion in sales and nearly 18 percent of total retail sales statewide.

Despite the success, the U.S. auto-loan market is starting to show some strain, according to media reports. Delinquencies among lower-rated borrowers have risen to the highest level since 2009 and auto loans outstanding is growing at the fastest pace on record and now accounts for a bigger proportion of total U.S. household debt in at least 14 years.

The U.S. auto-loan market is about $1.1 trillion, which pales in comparison with the $8.9 trillion mortgage market, but experts say the auto-loan losses are concerning, especially in light of the continuing economic recovery. As more borrowers fail to pay their bills, there will be some significant losers.