A sure sign that consumers are feeling good: consumers are drinking more in bars and restaurants, compared with at home. Having a drink out costs far more, and folks generally only do a lot of it when they’re optimistic about their finances.
By contrast, recessions always cause consumers to economize by tippling at home.
Also note that Americans are splurging more on their booze, too. Instead of beer, they are imbibing more liquor, which generally costs more.
Whatever they drink, they’re choosing fancier brands…craft or imported beers versus large domestics, wines that cost more than $15 per bottle, etc. The fastest sales growth is in spirits that cost well over $40 a bottle: single-malt Scotches, tequilas, bourbons, cognacs, etc.