A couple of weeks ago I highlighted the affects of using grog as an economic indicator.
Forget US jobs and look to beer for your economic indicator
Well it seems that there is trouble brewing for the US economy.
US beer sales have declined in the first half of 2013 according to research published today.
Beer sales are down 3% in the three months to May, and 2.6% y/y. The latest fall was put down to the payroll tax hike and a jump in youth unemployment.
A Bernstein research analyst said;
We believe that there has been a deterioration in the economic well-being of the lower income consumer, with the pay-roll tax hike having taken its toll and a marked up-tick in unemployment among young men
Belgian brewer ABI and US MillerCoors were worst hit (not surprising as their beer is horrible).
Heineken (also awful) posted an 8% gain in the three months to July
Full story from CNBC here.
Thanks to Ryan H for the linkedy link.
