Definition of Recession Proof Industry
What is a recession proof industry? What is the definition of the term recession proof industry?
A recession proof industry is an industry that is minimally impacted by an economic downturn. In fact, some industries (dollar stores, payday loans) even flourish when the economy stumbles into a recession.
An example of a major industry that is able to withstand recessions better than others? Insurance.
![Definition of Recession Proof Industry - Illustration](https://www.davemanuel.com/images/def_recession_proof_industry.gif)
Insurance is one of those necessities that most people will not live without, which makes the insurance industry largely recession proof.
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