What impact will the recession have on banks?

The first industry affected by the economic recession is definitely the banking industry. Economic development has a direct impact on industrial status. When the economy is in good shape, all industries thrive. But once an economic recession occurs, all walks of life will be affected. … Specifically, the economic recession will have different impacts on different industries, among which the following industries are most affected: 1. The retail industry is the industry most affected by the economic recession: the direct result of the economic recession is that people’s economic conditions have become worse. . This will inevitably cause consumers to spend less and buy less. This will have a huge impact on the retail industry. This impact is most direct in all walks of life and has a greater impact. Therefore, the retail industry is the industry most affected by the economic recession. 2. The tourism industry is also greatly affected by the economic recession: the economic recession will cause people's economic conditions to worsen, so many people will reduce their spending, because travel and tourism are usually consumption The first item of expenditure to be reduced. This will make the tourism industry an industry that will be greatly affected by the economic recession. 3. The impact of economic recession on the real estate industry is also huge. : During a recession, people have less money, so they do less buying and renovating their homes. This will have an impact on the real estate industry. … Additionally, a recession may even mean that many people may not be able to pay their mortgages and rent, which would have further consequences for the real estate industry. 4. The automobile industry has also been greatly affected by the economic recession: automobile sales are often considered to be one of the barometers of economic development. … When the economy is in good shape and people have enough money to buy cars, the automobile industry will prosper. But when the economic recession comes, the resulting unemployment and lower wages will make people unable to buy cars, and the automobile industry will be greatly affected. …The above-mentioned industries have been greatly affected by the economic recession.