1. Financial industry: During the economic recession, people's confidence and credit will decline, which will lead to a financial crisis. Financial markets such as stocks and commodity futures usually react before other markets. During the economic recession, these markets have fallen sharply, and the financial industry will also be seriously affected.
2. Real estate industry: The economic recession will reduce people's willingness to buy houses and invest in real estate, leading to the cooling of the real estate market. In addition, for many people, it will become more difficult to obtain housing loans.
3. Retail: Economic recession usually leads to consumers' reduced purchasing power, preferring to buy necessities rather than luxury goods, thus leading to a decline in retail sales. In addition, because consumers are more cautious, the flow of people in large shopping centers and shopping squares will also be greatly reduced.
4. Tourism: Economic recession usually leads people to cut their travel budgets and prefer local tourism to overseas tourism. Due to the instability and high risk of tourism, many people will reduce their tourism expenditure when the economy is in recession, which has a great impact on tourism.
5. Manufacturing industry: During the economic recession, the manufacturing industry often faces problems such as liquidity pressure, declining income and reduced capital expenditure. Because many enterprises will cut productivity, lay off employees, reduce costs and improve efficiency.
The impact of economic recession on different industries is different, which also depends on the market and region in which the industry is located. However, during the economic recession, the industries listed above are often the first to bear the brunt. By understanding these industries, we can better understand the impact of economic recession.