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What is the impact of economic recession on all walks of life?

The economic recession has a wide and profound impact on all walks of life, but usually, the following industries are the most seriously affected by the economic recession:

1. Financial services: Financial services are an important part of the economy, but during the economic recession, it may be affected because people usually reduce financial transactions and investments, thus reducing the income of financial institutions.

2. Real estate industry: The real estate industry is also an important part of the economy, but it may be affected during the economic recession, because people usually reduce real estate transactions and investments, which leads to a decline in the real estate market.

3. Retail: Retail is one of the industries most affected by the economic recession, because people usually reduce consumption and purchase, thus reducing the income of retailers.

4. Catering industry: The catering industry is also one of the industries seriously affected by the economic recession, because people usually reduce eating out and consumption, thus reducing the income of the catering industry.

5. Tourism: Tourism is one of the industries most affected by the economic recession, because the economic recession will lead people to reduce travel and travel, thus reducing the income of tourism.

in addition to the above industries, manufacturing, transportation and media will also be affected by the economic recession. It should be noted that the situation of each economic recession is different, and the industry and degree of its impact may be different.