The trend: Brewers are feeling the impact of China’s economic challenges.
Anheuser Busch InBev’s overall volumes dipped 2.4% YoY in Q3, marking a much bigger decline than the 0.4% dip that analysts expected thanks in part to a 14.2% decline in China sales.
Carlsberg’s volumes fell 0.2% YoY in Q3, a disappointment compared with the 0.9% gain analysts expected, as sales in China dropped 6%.