The Changing Import Dynamic

Dear Client: February has followed January's robust Beer Purchaser's Index with an even better showing: The NBWA-tracked measure of 60.7 far outpaced the 2018 measure of 49. Recall this index is a measure of distributor purchases. Readings higher than 50 represent category expansion, and below that benchmark, represent contraction. IMPORTS STILL EXPANDING, BUT NOT AS MUCH AS PRIOR YEAR. There are a few interesting dynamics within that impressive topline number for February. Maestro -- er, chief economist, Lester Jones, has