Research Update

 

Good afternoon,

Linked below is the January 2018 Domestic Tax Paid Estimate.

Below find a few key points provided by our Chief Economist, Michael Uhrich:

  • Domestic tax paid beer shipment volume declined by 5.6% in raw terms during January 2018.
  • While the month technically gained a selling day vs. January 2017, this did little to improve the month’s performance because the extra selling day was Monday, January 1 – New Year’s Day.
  • Additionally, the softness in January’s domestic beer shipments reflects the ongoing trend towards maintaining lower inventory levels among U.S. beer distributors.
  • As we reported last month, U.S. beer distributors had reduced their net inventories by 10-12% during December, which is typical at the end of the year.
  • Historically, this is normally followed by fairly dramatic restocking in January, leading to growth in distributors’ net inventories of 15-20%.
  • However, this January distributors increased their net inventories by only 7-10%, resulting in beer shipment softness.

If you have any questions, please contact Michael at either 202-737-2337 or muhrich@beerinstitute.org.

Cheers,

Jim McGreevy
President and CEO

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