Your weekend glass of wine may actually be an economic tell
What do wine and spirits have to do with finance? Well besides the fact that the Rothchild banking family operates one of the world's most famous wineries it turns out at least one kind of alcohol is a bit of an economic bellwether.
Chris Adams, the CEO of Sherry-Lehmann, says champagne has more or less tracked with economic ups and downs since the 1940's.
"You can sort of trace champagne sales and economic trends globally and across our country," he told Yahoo Finance.
Champagne is just one of the trends Adams says is "hot" this summer, especially rosé wines.
"People have gotten more in tune with the Provencale rosés which are lighter in style, more flexible," he notes.
Another trend: tequila. No, not the Jose Cuervo you do shots of, but the high end stuff that retails for $300 a bottle and is referred to as "sipping" tequila.
Those high end, hand crafted spirits don't stop south of the border. Adams says artisinal varieties of gin, bourbon or vodka are also growing in popularity.
So what has prompted a trend in higher end libations? "It has a lot to do with what's going on in the food world," Adams says. "Over the years - the last 15 years - people are getting more in tune with their diets and what they're putting in their bodies."
Still, Sherry-Lehmann is in a pretty high end part of the east side of Manhattan. Could Adams' vision of these trends be skewed?
While he admits his customers may be some of the first to get in on new trens he assures us "the truth is this is a global trend, this is something we're seeing across the country," he says.
What will you be enjoying this long holiday weekend? Let us know below or on Twitter @YahooFinance.
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