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Below is a brief excerpt from complimentary research note written by our Consumer Staples analysts Howard Penney and Daniel BiolsiIf you are an institutional investor interested in accessing our research email sales@hedgeye.com

Consumer Staples: Groceries Plateau, Beer Index Bounces - 6 10 2020 11 14 58 AM

Consumer survey points to plateau in grocery spending

In the latest week of our consumer survey, 52% of consumers report spending the same on groceries as the previous week, as seen in the chart below.

The percentage of respondents saying slightly less, slightly more, and the same reached a survey high of 89%, as every state has reached some phase of reopening.

Consumer Staples: Groceries Plateau, Beer Index Bounces - gro1

Beer Purchasers’ Index rebounds in May

The National Beer Wholesalers Association’s monthly Beer Purchasers’ Index bounced from April’s reading of 35 to 66 in May. An index of 50 points or more indicates that purchasing in a segment is expanding while below 50 indicates contraction.

The below premium sector reached a record reading of 71 in May.The FMB/seltzer segment returned to 90, compared to 79 a year ago. The craft index rebounded from a low of 14 in April to 42 in May.

Imports returned to growth with a reading of 53 in May.

With many on-premise outlets still closed, the at-risk inventory index (at risk of going out of code in the next 30 days) for total beer remained at an elevated level of 69, but better than 80 in April.