Economic downturn causes Vietnamese to drink less beer

(Bloomberg) -- Vietnamese are consuming less of their favorite beverage, beer, as a result of the economic downturn, prioritizing budgeting for daily necessities. Due to weak global demand and uncertain prospects for China's economic recovery, Vietnam's exports, whose economy is dominated by manufacturing, have fallen for six consecutive months. Total exports in the first nine months fell 8.2% year-on-year. While Vietnam's inflation rate remains relatively low, at no more than 3%, the weakening economy worries most Vietnamese and prompts them to tighten their belts. Pham Thuy Trang (48), a hairdresser in Ho Chi Minh City, said: "I told my husband to drink less beer. Now the cost of living is increasing, so we must reduce buying unnecessary things." She is saving money to buy food, health care and electricity. Waiting for payment. Data from S&P Global Market Intelligence showed that Vietnamese companies were reluctant to hire more workers amid weak demand, leading to a slight ...