Low Unemployment Fails to Help Domestic Beer

Dear Client:In a wide ranging report from Bernstein's Trevor Stirling and his team, the bottom line is that, the beer business is a tough playground in which to play. Not only are volumes soft, but price/mix is running well below previous levels (previously up around 3%, now running only up 0.5%, suffering from weaker [flat] pricing and weak mix shift). The weakness in mix shift is due to a mixture of much lower craft beer growth along with a slowdown