National Beer Wholesalers Association said its Beer Purchasers' Index rose to 38 in January from 30 in December 2022 but remains well below the year-earlier number.
The “at-risk” inventory index of 52 is unchanged from December 2022 and is a slight improvement over the January 2022 index of 58. Notably, the below premium segment index continues to be the only segment to report a higher reading compared to 2021 and 2022. Beer orders have remained below the 50 mark for eight consecutive months, NBWA said.
Readings above 50 indicate expansion. Readings below 50 indicate contraction.
Looked at by segments, the BPI continues to paint a picture of an economy and industry that, if it doesn't have the flu at least has a bad cold.
- The imports index is the only segment pointing to expanding volumes, with a reading of 52 in January. However, the January 2023 reading is 19 points lower than the January 2022 reading of 71. While still above 50, the import segment has consistently trended lower month over month, with fewer respondents reporting they are ordering more.
- The craft index of 21 is well below the January 2022 reading of 40 and has continued to reach new lows since 2015.
- The premium lights index posted a reading of 37, which is also below the January 2022 reading of 46.
- The premium regular segment index of 27 is also below the January 2022 reading of 30.
- The below premium segment index of 48 is 10 points higher than the January 2022 reading of 38 and continues to be the only segment to report a higher reading compared to 2021 and 2022.
- The FMB/seltzer segment continues to contract, falling to 18 from the January 2022 reading of 39.
- Finally, the cider segment reports a reading of 26 compared to the January 2022 reading of 28.