AEG’s AndCan®Index November 2019 Release:
After strong July numbers, August takes a break; year-over-year figures still up considerably
- August’s monthly demand for legal cannabis products was flat.
- U.S. product demand year-over-year is 18.8% higher.
- Increase in demand paused after strong reading in July.
EAST LANSING, MI—November 5, 2019—AEG’s monthly AndCan®Index indicated a flat level of demand for legal cannabis products in the United States in August. Anderson Economic Group produces the monthly measurement to observe market trends for these products across all 50 states.
After continuing a steady upward climb through July, legal cannabis products remained flat in August 2019. However, year-over-year figures continue to demonstrate strong growth at around 18%.
AEG’s Kenan Cosguner says these softer August numbers do not reflect a change in long-term trends. He anticipates that demand will resume its steady upward climb for the remainder of 2019, continuing the historic trends recorded since Anderson Economic Group began assessing the market in 2015. “Occasionally, we’ve seen monthly figures take a short break from the otherwise constant growth in demand,” explains Cosguner. “To date, however, those interruptions have been very brief and industry growth soon continues its steady upward climb.”
About the AndCan Index
Launched in June 2017, the AndCan®Index reflects observed demand from U.S. states that have legalized cannabis, and estimates latent demand in states where data on observed demand are unavailable.
The AndCan®Index builds upon:
- Three years of comprehensive coverage of the U.S. legal cannabis market and assessments of demand by Anderson Economic Group;
- A rigorous methodology that has been presented in technical papers at two professional economics conferences; and
- More than two decades of business consulting experience worldwide.
Comments from other professional economists have been incorporated into the AndCan®Index, as has additional research by Anderson Economic Group consultants.
In March 2019, Anderson Economic Group released the 2019 benchmarked AndCan®Index, which included a number of methodological and data improvements. They added data for a number of states that were not included in the original index, and updated the AndCan® methodology to take advantage of new data.
About Anderson Economic Group
Since its founding in 1996, Anderson Economic Group has become one of the nation’s premier boutique consulting firms, specializing in business valuation, expert testimony, and public policy. AEG has assisted governments, universities, large corporations, and businesses across the U.S. and abroad. All of the firm’s work is based on the core values of professionalism, integrity, and expertise.
AEG has offices in East Lansing, Michigan and Chicago, Illinois.
Lisa Wootton Booth
AEG—East Lansing, Michigan
Members of the media are invited to request early (24 hr) access to these monthly releases by contacting lwbooth (at) andersoneconomicgroup.com.