1. real estate: during the economic recession, the real estate market is usually hit because people can't afford housing prices. When the real estate market was adjusted, the sales volume of houses decreased, the investment scale decreased, house prices fell, and various real estate and building development projects were abandoned.
2. Finance: During the economic recession, banks and financial institutions may face risks. Due to the poor economic situation, people's demand for loans has declined, and users have continued to grow, which has greatly affected the source of bank profits.
3. Retail industry: During the economic recession, most people's purchasing power declined and their consumption expenditure decreased, which would have a great impact on the retail industry. For decades, ordinary consumers have been one of the key factors to promote American economic growth. The decline in their purchasing power means that the retail industry will have to reduce inventory and prices to attract consumers.
4. Manufacturing: During the economic recession, manufacturing and industrial production were severely impacted, because people reduced the demand for groceries and other commodities. This has led to factory shutdowns and layoffs, which has affected the livelihood of manufacturing employees.
5. Service industry: During the economic recession, people usually reduce unnecessary expenses, such as travel and catering services. This will have an impact on the service industry, leading to business decline and layoffs.
6. Retail industry. The economic recession has led to a decline in consumer confidence and willingness to buy luxury goods and high-end goods. At the same time, as people spend less, they may cancel some ordinary purchases, such as household goods and electrical appliances. This is very unfavorable to the retail industry.
Generally speaking, economic depression will affect all industries, but these industries are often the most seriously affected.