The NBWA recently released its April Beer Purchasers’ Index, which is a forward-looking indicator measuring expected demand from beer distributors. A reading greater than 50 indicates the segment is expanding, while a reading below 50 indicates the segment is contracting. According to the April BPI, there is “a slight deterioration in the beer industry outlook from the February and March data.” The April BPI overall dropped to 49, which, as we explained above, is just below the expansionary benchmark of 50. “This is a step back from the positive BPI readings we saw in the last two months. At the same time, the April At-Risk Inventory (ARI) increased to 55. This data suggests that beer purchasers are taking a more cautious approach to ordering, heading into the second quarter following continued economic uncertainty along with milder and wetter spring weather relative to March 2022.