Beer sales go down as taxes increase
July 24 , 2013
Beer sales decline in the U.S. due to the tax hike and increase in the unemployment rate among consumers. The market had reported a 1 percent growth in the year of 2012 but the sales ended up dropping by 3 percent in the three months to May 2013.
Bernstein analysts stated that they believe the economic welfare of young men has been deteriorating due to the pay-roll tax hike and the increase in unemployment, as reported by NBC News. The firm said this trend is expected to continue this year but won't be as high in magnitude after the economic conditions improve.