LONDON - As a global recession looms, what better way to cope than to eat, drink and be merry?

Even as consumers face soaring energy costs, rising food prices and higher mortgages or rent, it seems clear they're not prepared to forgo many of life's little treats - alcohol, cigarette and candy makers are all reporting healthy sales amid the gloom.

"I would never give it up, not unless I was dying of alcohol poisoning or something," said Kelly Piggeln, a 62-year-old retired nanny, as she indulged in her favorite two vices of a cigarette and a glass of wine on the patio of a London bar.

Piggeln's stance is being echoed by cash-strapped consumers around the world, a trend that is reflected in strong financial reports this season from some of the biggest so-called "sin stocks" even as banks and many retailers report sliding income.

Sin stocks, ranging from gambling to liquor, are usually a safe bet in hard times. While shares in some of those companies have fallen along with stock exchanges this year, lots are still seeing strong revenues and sales.

"It's inelastic demand as far as many of these stocks are concerned," said Hargreaves Lansdown analyst Keith Bowman, using the economists' term for consumption that is not deterred by higher prices. "So far there's signs that they are holding up, although there's still concern that these industries will see some impact."

Among the winners, though: Anheuser-Busch Cos. Inc., the biggest brewer in the United States, turned a profit in the most recent quarter despite fears that rising costs for raw materials like glass, barley and wheat and fuel would cut into The King Of Beers' bottom line.

The company is so confident that consumers won't abandon the beer that it plans to increase prices for popular brands like Budweiser and Bud Light to stay ahead of the higher costs.

Similarly, Denmark's Carlsberg reported a 36 percent rise in second-quarter net profit, saying stronger sales, particularly in eastern Europe and Asia, helped offset rising costs.

In Milwaukee, Katie Brozovich - a teacher who also works three part-time jobs - said she makes choices in her spending, such as not having her hair and nails professionally done, so she can keep drinking the pricier craft brews she prefers. Craft beers are those traditionally brewed from small, independent breweries.

"I'd rather spend $4 or $5 on quality beer than $3 on hopped up water," said the 46-year-old, who was sipping on a craft beer from nearby Michigan.