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Monday
Jun132011

As Obama Meets to Discuss Growth, 10 Sectors Are Sick or Dying

Hemera Technologies/Thinkstock(LOS ANGELES) -- President Obama visited North Carolina Monday, meeting with his Jobs and Competitiveness Council to discuss ways to promote U.S. job growth, bolster America's global competitiveness and strengthen the economy.

Some sectors of the economy, according to market research company IBISWorld, could use strengthening: An IBISWorld report identifies 10 U.S. industries, which, if not actually dead, are headed that way fast.

Some, such as manufactured housing, theoretically could get better and enjoy a healthy future.  Others, such as record stores, cannot: They might just as well strap on a "Do Not Resuscitate" sign and pull down the shades.

"While the U.S. economy is headed further into recovery, not every industry is performing well," writes the report's author, Toon Van Beeck.  Every industry, he says, goes through its own lifecycle -- growth, maturity and decline.  IBIS combed its database of some 700 industries and studied 200 that were in decline.  From those, it identified 10 that it considers "standouts."

All the following, says Van Beeck, are "on the verge of extinction:"

1. Record retailers
2. Dealers in manufactured housing
3. Wired telecommunications carriers
4. Textile mills
5. Newspaper publishers
6. Apparel manufacturers
7. DVD, game and video rental stores
8. Providers of video postproduction services
9. The photofinishing industry
10. Renters of formal wear and costumes

All 10 industries are in long-term decline.  From 2000 to 2010, each experienced a sizeable contraction both of revenue and of its total number of establishments.  Looking forward, further deterioration in both is forecast for each industry between now and 2016.  

Copyright 2011 ABC News Radio

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