Beer stats and state budgets

Beer industry’s mid-year update

Brewbound shares some of the top insights from National Beer Wholesalers Association chief economist Lester Jones in a recent webinar presented by invoice tech firm Fintech. One finding: the full effect of nationwide closures due to the COVID-19 pandemic has yet to be felt and will likely rear its head in the second half of 2020.

Craft beer hits ‘at-risk’ level in Beer Purchasers’ Index for July

The National Beer Wholesalers Association (NBWA) released the Beer Purchasers’ Index (BPI) for July 2020 as beer distributors around the country are reacting to significant changes in consumer demand and working to meet unprecedented challenges in the marketplace. The craft index for July at 41 fell below the 50 break-even mark and significantly below the 59 reading reported in July 2019. Read more from Craft Brewing Business.

7-Eleven buys Marathon Speedway in a $21 billion deal

The Japanese owner of 7-Eleven is buying the Speedway chain of gas stations from Marathon Petroleum (MPC) for $21 billion. It's one of the biggest acquisitions in the world to be announced since the COVID-19 pandemic hit earlier this year. With this deal, 7-Eleven would have a presence in 47 of the top 50 most populated metro areas in the United States, the company noted in a press release.

State budgets are broke

Record-high unemployment from the pandemic shutdown has wreaked havoc on two of the biggest sources of revenue for states, personal income taxes and sales taxes. From March through May of this year, 34 states experienced at least a 20% drop in revenue compared with the same period last year. Check out this interactive graph from NPR that shows how your state’s revenue and budget situation is fairing.

TODAY'S NEWS

Beer industry’s mid-year update

Craft beer hits ‘at-risk’ level in Beer Purchasers’ Index for July

7-Eleven buys Marathon Speedway in a $21 billion deal

State budgets are broke

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