1540 ET - Casual dining's relative strength in the restaurant industry in recent months may be at least partially due to differences in sentiment among consumers based on their political persuasions, Morgan Stanley analysts say in a research note. Among all casual diners the analysts cover, on average, about 68% of their locations are in states that voted for Donald Trump in 2024, compared with about 63% for fast-food companies and 44% for fast-casual and coffee chains, which is the weakest of the three segments right now, they say. "To the extent there is a political spread in consumer sentiment (which most data has shown) or behavior, this is a rough way to play that," the analysts say. They acknowledge that they aren't able to prove causation and there is a lot more nuance behind what is going on. "But it could be added to the list of possible drivers," the analysts say. (dean.seal@wsj.com)

(END) Dow Jones Newswires

September 15, 2025 15:40 ET (19:40 GMT)

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