heavy industry

noun

Definition of heavy industry 

: the production of goods (such as coal or steel) that are used to make other goods

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heavy industry

noun

Financial Definition of heavy industry

What It Is

Heavy industry refers to industries that produce "heavy" products.

How It Works

Oil, mining, shipbuilding, steel, chemicals, machinery manufacturing and similar industries are examples of heavy industry. They are very capital-intensive, meaning that they require a lot of machinery and equipment to produce. Often, they are criticized for their environmental impacts.

Why It Matters

Heavy industries often sell their products to other industries rather than to end users and consumers. In other words, they usually make products that are used to make other products. Accordingly, when a down economy begins to recover, heavy industry is often first to show signs of improvement. This makes the sector a leading economic indicator.

Source: Investing Answers

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