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CNN Live At Daybreak

German Breweries: There's No Beer Shortage

Aired August 11, 2003 - 06:13   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


CAROL COSTELLO, CNN ANCHOR: Time for a little business buzz right now. Germans may be complaining about the stifling heat, but at least they can take comfort in knowing there is enough beer to cool them down.
That's music to Chad's ears. I can hear him singing.

Good morning -- Carrie Lee.

CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Hi, Carol.

And you know this is a big story in Germany. This was on the cover of a couple of German newspapers, front-page story. Now earlier this week, rumors were swirling that a surge in demand of brew, because of the heat, had put a squeeze on supply. But now German breweries are reassuring customers that there is no imminent danger of a beer shortage. A trade group says the brewers are working around the clock and in triple shifts to make sure that there is enough beer on tap.

Now German beer sales jumped 9 percent in June compared with last year. Believe it or not, the average German drinks 31 gallons of beer a year. Germany is the No. 3 beer producer in the world behind China and the U.S. Still, Carol, big business and a big concern for a lot of Germans lately, but it looks like their fears are now alleviated.

COSTELLO: Thank goodness for that.

Quick look at the futures.

LEE: Yes, looks like a slightly higher open right now this Monday. We did have a mixed session last week. The Nasdaq, the technology heavy index, lost about 4 percent last week. The Dow did a little bit of ground. This morning look for shares of Martha Stewart Living, perhaps, to move. The company is reporting profits before the opening bell. This is the first time the company will report since her indictment, and it looks like Wall Street expecting a loss for the three months ending in June -- Carol.

COSTELLO: They're going to reveal Martha Stewart's income, too, later today.

LEE: Would be -- it will be a very interesting report, certainly.

COSTELLO: I'm sure you guys will be there.

Carrie Lee live from New York this morning.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com






Aired August 11, 2003 - 06:13   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for a little business buzz right now. Germans may be complaining about the stifling heat, but at least they can take comfort in knowing there is enough beer to cool them down.
That's music to Chad's ears. I can hear him singing.

Good morning -- Carrie Lee.

CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Hi, Carol.

And you know this is a big story in Germany. This was on the cover of a couple of German newspapers, front-page story. Now earlier this week, rumors were swirling that a surge in demand of brew, because of the heat, had put a squeeze on supply. But now German breweries are reassuring customers that there is no imminent danger of a beer shortage. A trade group says the brewers are working around the clock and in triple shifts to make sure that there is enough beer on tap.

Now German beer sales jumped 9 percent in June compared with last year. Believe it or not, the average German drinks 31 gallons of beer a year. Germany is the No. 3 beer producer in the world behind China and the U.S. Still, Carol, big business and a big concern for a lot of Germans lately, but it looks like their fears are now alleviated.

COSTELLO: Thank goodness for that.

Quick look at the futures.

LEE: Yes, looks like a slightly higher open right now this Monday. We did have a mixed session last week. The Nasdaq, the technology heavy index, lost about 4 percent last week. The Dow did a little bit of ground. This morning look for shares of Martha Stewart Living, perhaps, to move. The company is reporting profits before the opening bell. This is the first time the company will report since her indictment, and it looks like Wall Street expecting a loss for the three months ending in June -- Carol.

COSTELLO: They're going to reveal Martha Stewart's income, too, later today.

LEE: Would be -- it will be a very interesting report, certainly.

COSTELLO: I'm sure you guys will be there.

Carrie Lee live from New York this morning.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com