Millennials might be hurting the restaurant industry

It’s no surprise that millennials are obsessed with Instagramming their food, but according to a recent report, they could actually be hurting the restaurant industry.

According to Bank of America Merrill Lynch economists, millennials are to blame for a steady decline in restaurant sales’ growth rate for the past three years.

Based on aggregated Bank of America credit card and debit card data, experts found that the slower restaurant pace is more akin to a weaker or a recessionary economy.

The growth pace of spending for millennials or Gen-Y went from 9 percent year over year in 2015 to just 1.6 percent now.

The economists believe millennials are opting to stay home and cook rather than dine out. However, it turns out supermarket trends don’t really reflect that.

So, where are they getting their food from? New online grocery delivery services might be to blame.