EAST LANSING – Growth in demand for legal cannabis products in the United States was slightly slower in November than it was in October. This continues a new trend of much softer demand growth than we saw in the spring and early summer, according to Anderson Economic Group’s monthly AndCan®Index.
AEG’s experts produce this monthly measurement by closely following 50 state trends for both the recreational and medicinal marijuana markets. Monthly calculations are based on benchmarks developed when AEG first began assessing the market in 201
Kenan Cosguner, Anderson Economic Group’s lead analyst for this market, predicts that the latest round of federal COVID-19 relief spending (passed in late December) may boost cannabis demand in the first quarter. “We saw surging demand for cannabis products begin to subside when federal relief programs drew to a close last summer,” he said. “Now that expanded unemployment insurance has been extended, new stimulus payments are being issued, and the second round of PPP loans is being released, the softening trend could reverse and the pace of growth may pick up again.”
Monthly demand for legal cannabis products in the U.S. increased by 0.2% in November.
Year-over-year demand remains strong, showing a 23.2% growth rate.
The growth rate decreased between October and November, continuing a trend of slower growth when compared to the surge in spring and summer.
Highlighting the slowdown in cannabis demand growth this fall, several states saw a significant decrease in recreational cannabis sales from October to November. Sales fell