"We found that alcohol consumption up to moderate levels had no independent effects on weight or HC [head circumference] at birth, and there was no evidence of longer-term effects at 5 years. There was an apparent effect of binge drinking on birth weight, but this was due to confounding by cigarette use. Cigarette exposure, not binge drinking, adversely affected HC and birth weight."

"The lack of adverse outcomes due to consumption up to moderate levels is consistent with several previous studies of effects on either weight or HC in children ranging from birth to 24 months [9,12,24,30–42]. One study that measured children at birth and then again at 6 years also found no effects associated with measures of actual alcohol consumption, although reduced HC and length were associated with a measure of indications of problem drinking [24,51]. Of particular interest is a study that investigated a group who would be considered to be at high risk of adverse outcomes since it involved disadvantaged mothers with a history of alcohol abuse [31]. Although detrimental effects on weight, length, and HC appeared to be due to alcohol consumption, they were no longer significant once covariates such as maternal smoking and race were taken into account."

Source

O'Callaghan, F. V., O'Callaghan, M., Najman, J. M., Williams, G. M., & Bor, W. (2003). Maternal alcohol consumption during pregnancy and physical outcomes up to 5 years of age: a longitudinal study. Early human development, 71(2), 137–148. doi.org/10.1016/s0378-3782(03)00003-3.