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Vietnamese people restrict drinking beer, many big alcohol companies have suffered a great loss of revenue.

Cutting down on beer consumption of Vietnamese people  has caused a large loss of revenue of global beer enterprises and made growth expectations unreachable.


According to Bloomberg, Vietnamese people have significantly reduced their beer consumption recently. Some explanations suggest that households are prioritizing their budgets for daily basis needs in this  economic hardship situation.

Pham Thuy Trang, a 48-year-old hairdresser in Ho Chi Minh City, said: "I told my husband to limit drinking beer."  She also said she was saving money for essential needs such as food, health care and electricity. “Costs are increasing therefore we have to seriously cut down on unnecessary things.”

Although inflation remains relatively low at less than 3%,  many people change their spending habits owing to the economic situation. The level of economic growth will still be calculated in the coming days. As reported by a Bloomberg survey, data have shown growth for the quarter ending in September would be 5%, up from 4.4% in the previous three months.

Despite the second consecutive quarter of acceleration, sharper growth performance is still necessary to achieve the government's target of 6.5% this year.

As stated in  S&P Global Market Intelligence, in the economic recession, companies have little interest in hiring more employees, leading to a slight decrease in employment in August. That partly explains why many Beer bars - where office workers gather after work - witnessed a down sales.

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