Bloomberg reports that consumer sentiment is now most dire it has been since 1980:
Confidence among U.S. consumers fell in May to the lowest level in almost 28 years as record-high fuel prices, lower home values and fewer jobs rattled Americans.
The Reuters/University of Michigan preliminary index of consumer sentiment decreased to 59.5, the weakest level since June 1980, from 62.6 in April. The measure averaged 85.6 in 2007.
And The Huffington Post tells us that most people are not finding solace in their favorite microbrew:
Consumers still want different types of beers, but for a growing number with empty pockets, that means less expensive ones, the chief executive of Miller Brewing Co. said Thursday.
The Milwaukee-based brewer saw a small increase in sales of economy beers like Milwaukee’s Best starting in January, at the expense of higher-priced brews, Tom Long told The Associated Press in an interview.
Even beer sentiment is reverting to the 1980’s! In that case, maybe Deschutes ought to take a page out of Stroh’s playbook:
[youtube http://www.youtube.com/watch?v=TQdr7PB2ThQ&hl=en](Click for video)Sources:
U.S. Consumer Sentiment Decreases to 28-Year Low
Shobhana Chandra
Bloomberg
Beer May Not Be Recession-Proof
Emily Fredrix
AP