Which industries are cyclical and which are non-cyclical?

1, automobiles, steel, real estate, non-ferrous metals, petrochemicals, etc. are typical cyclical industries, and other cyclical industries include electric power, coal, machinery, shipbuilding, cement, raw materials and medicine.

2. The price of the securities industry is relatively stable and the demand fluctuates greatly. The special feature of the securities industry is that investors are in the industry and the cycle conversion is obvious. It is easier to judge the turning point of the industry through indicators such as valuation and volume.

Extended data

Periodic cycle:

The cycle of cyclical industries often occurs in a certain order along the industrial chain. Usually, the recovery starts from the downstream industries such as automobile, real estate, infrastructure construction and machinery and equipment manufacturing, and then it is transmitted to the processing and manufacturing industries such as chemical fiber, nonmetallic mineral products, nonferrous metal smelting and calendering, ferrous metal smelting and calendering, and finally it is transmitted to the upstream industries such as nonferrous metals, petroleum, coal and petrochemical.

The recession also started from the downstream industries and was transmitted to the middle and upstream industries in turn. The historical background is different, the cycle is not simple repetition, and the operation law is not static. We should not simply apply historical experience to judge the turning point of the cycle, but analyze it according to specific experience.

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