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Usually, anti-cyclical industries with consistent demand through cycles, so (re)insurance, insurance services, healthcare, healthcare services. Some niche subsectors do even better in a downturn like low cost auto insurers. However, even though they don't correspond to economic cycles, they do have their own "acts of God" cycles, where things can get pretty hairy, and government regulation can also be a big uncertainty sometimes.

 

Everything mentioned above. 

Would also add industrials and some parts of Business Services (blue collar services etc).

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