LANSING – Anderson Economic Group’s monthly AndCan Index shows resumed growth in U.S. demand for legal cannabis products in October 2019. This follows a two month plateau in August and September as the market took a break from uninterrupted growth between January and July.
Year-over-year, the growth rate strengthened further to a rate of 16.9 percent. These trends are in line with AEG analyst predictions, and are indicative of continued long-term market growth.
“We see room for additional expansion, with increases in demand forecast through the end of 2019 and into 2020,” said Kenan Cosguner, who oversees the AndCan Index for Anderson Economic Group.
The AndCan Index is a monthly measurement that closely follows 50 state trends for recreational and medicinal markets. It is based on benchmarks developed when AEG began assessing the market in 2015, and has been published monthly since June 2017.
Followers of the U.S. legal cannabis market may be interested in a new publication that describes the model and the challenges that had to be overcome to develop it. Patrick L. Anderson’s “Blue smoke and seers: measuring latent demand for cannabis products in a partially criminalize market” is available online now in the journal Business Economics.