Economic depression is a common phenomenon, which will have an impact on various industries. However, different industries are affected to different degrees, so when the economy is depressed, which industries are the first to close down? Here is my opinion. First of all, the catering industry is easily affected by the economic downturn

During the economic boom, people will be more willing to eat out and their consumption level will be higher. But when the economy is in recession, people will control their consumption more carefully, reduce the frequency of eating out, or choose cheaper dining places. Therefore, when the economy is depressed, the income of the catering industry will be greatly affected, and many small restaurants will even close down. Secondly, the retail industry is also vulnerable to the economic downturn

During the economic boom, people will be more willing to spend money on luxury goods or high-end products. But when the economy is depressed, people will pay more attention to prices and reduce unnecessary consumption. Therefore, the sales of the retail industry will be greatly affected, and many small retail stores will also face the risk of bankruptcy. Thirdly, the real estate industry is also easily affected by the economic downturn

During the period of economic prosperity, house prices will continue to rise, making it easier for people to buy real estate. However, when the economy is depressed, house prices will fall, and people will be more cautious when buying real estate. Therefore, when the economy is depressed, the sales of the real estate industry will decline, and many small real estate companies will also face the risk of bankruptcy. Finally, the financial industry is also vulnerable to the economic downturn

During the economic boom, the income of the financial industry will continue to grow, and people will be more willing to invest. However, when the economy is depressed, the income of the financial industry will drop, and people will invest more cautiously. Therefore, in the economic downturn, the financial industry will also face some risks, such as the stock market decline.

to sum up, the economic downturn will have an impact on various industries, but different industries are affected to different degrees. In the economic downturn, catering, retail, real estate and financial industries are the most vulnerable industries, and small enterprises are also prone to the risk of bankruptcy. Therefore, enterprises need to be more cautious in their operations and adjust their business strategies in time to adapt to changes in the economic environment.