October’s Beer Purchasers’ Index (BPI) reading of 48 “shows a steady state for the industry,” National Beer Wholesalers Association (NBWA) chief economist Lester Jones wrote in the trade group’s monthly report.
October marked the third consecutive month the BPI fell just below the 50 benchmark that indicates increased ordering and expansion, suggesting “industry consistency heading into the final months of 2023,” Jones wrote.
Two of the seven beer segments recorded BPI readings above 50 in October, suggesting most beer segments are in contraction, except for imports, with a reading of 67 (up from 59 in October 2022), and premium lights, with a reading of 53 (up from 45 in October 2022).
However, six of the seven segments increased their October BPI reading versus October 2022:
- Craft (31, up from 23 in 2022);
- Premium regular (49, up from 32 in 2022);
- Flavored malt beverages/hard seltzer (28, up from 18 in 2022);
- And cider (35, up from 30 in 2022).
Below premium posted a reading of 45, slightly below its October 2022 reading of 47.