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Recession-proof industries
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Some industries are considered by economists as recession-proof industries. Goods and services produced by these industries have a low income elasticity of demand and thus business involving these goods remains relatively stable despite the fall in discretionary income that occurs during an economic recession. These industries are in contrast to those that produce high-priced durable goods and luxury goods such as automobiles and jewellery. Most recession-proof industries produce soft goods which are necessities. Corporations historically associated with recession-proof industries have included Kraft, Procter & Gamble, and Gillette. The reason these types of companies are often called recession-proof is because they produce and sell products that consumers use regardless of their economic status or level of income. Whatever their economic status, families need to wash their clothes and feed themselves. The following is a non-definitive list of recession-proof industries: *Medical Services / Health care *Pharmaceuticals *Necessities: food/grocery stores/chains *Cosmetics *Education *Entertainment *Home & vehicle repair & maintenance *Debt collection *Tax preparation / simplification (cf: tax avoidance) *Career/Job search/Life coaching *Energy **Electric **Oil **Gas *Security/Alarm services companies *Weapons industry *Insurance *Funeral homes *Air Conditioning/Heating *Plastics *Emergency Services (Police, Firefighter, Paramedic) See Also
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