Executives are loosening the purse strings this year, as budgets for holiday parties are higher than in 2012 at restaurants including STK steakhouses. 

The pace of booking activity is shaping up to be “slightly better” than the “mid-single digit” growth Larry Miller, founder of MillerPulse.com in Atlanta forecast in September.  Business leaders appear to feel more generous, which is encouraging because restaurant sales this year have been “a bit disappointing overall,” said Miller, who provides an industry performance-benchmarking service.

David Fuller's view

Big corporations are in the strongest position within the USA, not least in terms of share prices.  So the somewhat cheerier atmosphere is another sign that the slow economic recovery continues, but a far cry from he excesses in a bubble economy.