Travel:Bring on "a good, deep, bloody recession", Ryanair boss Michael O'Leary declared this week - as he issued a profit warning.
Deteriorating consumer confidence in the UK is bad news for the airline, which has gambled on passenger numbers continuing to climb. But some analysts believe low-cost airlines are more resilient to recessions than Ryanair's sinking share price suggests, as "premium" airline passengers slum it in the cheap seats and weaker demand for oil eases fuel prices.
WHITE GOODS AND FURNITURE
Sellers of white goods, furniture and soft furnishings won't be jumping for joy at the thought that only 45,000 new homes are expected to be built this year, down from 78,000 in 2007. On the other hand, uncertainty about house prices may continue to force some would-be upgraders to sit still and give their place a DIY face-lift instead.
CLOTHES
"It's not always the most expensive things that suffer," says former Topshop brand director Jane Shepherdson. "Sometimes people decide not to buy five cheaper items and instead buy one really nice shirt that will last." But this doesn't quite fit with discounters' bumper performance - sales at Penneys rose 26 per cent in the 16 weeks to January 5th. Tighter belts are expected to stifle mid-market clothing retailers such as M&S and Debenhams more than most.
CARS
The credit crunch's best efforts to decimate end-of-year bonuses doesn't appear to have thinned the streets of BMWs or Mercedes: both "executive" cars are still within the top 10 makes sold in the Republic. New car sales in January motored ahead 4 per cent compared to the previous year and are viewed as a healthy indicator for consumer spending. But the test will come in July, when dealers are counting on new VRT rules for an out-of-season mini-surge.
ALCOHOL
Booze is sometimes claimed to be "recession-proof", with people drinking more during tough times. But opinion is split as to whether a downturn leads cocktail drinkers back to beer, or as Diageo's North America president Ivan Menezes put it, the pressure is on anything selling for less than $10 a bottle. In the Republic, sparsely-populated pubs are more likely the result of a shift to home drinking than faltering economic growth.
