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 is adjusted, the sales volume of houses decreases, the investment scale decreases, the house price falls, and all kinds of real estate and building development projects are 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 declines and users continue to grow, which greatly affects 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, the average consumer has been one of the key factors driving American economic growth. Their declining 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 an impact on 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 a decline in business and layoffs.
generally speaking, the economic recession will have an impact on all aspects of the economy, hitting various industries, but the relevant solution is to take relief measures during the economic downturn, because the short-term banking system is saturated, which leads to measures to provide liquidity.