CORRECTED - UPDATE 2-Molson Coors profit tops view, volume slips

(Corrects Molson's ranking to fifth-largest brewer, not third-largest, paragraph 5)

* Q3 adjusted EPS $1.14 vs analysts' view $0.98

* Beer volume down 2.9 pct

* Worldwide Coors Light volumes down slightly

* Shares fall 3 percent (Recasts, adds details on quarterly performance, competitors)

CHICAGO, Nov 4 (Reuters) - Molson Coors Brewing Co (TAP.N: Quote, Profile, Research) reported a bigger-than-expected rise in quarterly profit, helped by cost cuts and price increases, but volumes fell as the beer industry sees a slowdown in consumer spending.

The results echoed reports by MillerCoors, Molson's U.S. joint venture with SABMiller Plc (SAB.L: Quote, Profile, Research), and by Carlsberg (CARLb.CO: Quote, Profile, Research), the fourth-biggest brewer. Shares of Molson Coors fell 3 percent.

Carlsberg beat analysts' profit expectations on Wednesday but trimmed its 2009 sales outlook and forecast an "equally challenging" 2010, and its shares fell 5.4 percent [ID:nL4540540].

Like all discretionary consumer products, sales of beer have been impacted by the slowdown in consumer spending. However, its relatively low price has made it more resilient than other products.