Word: shrunk
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Dates: during 2000-2009
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...Germany's Federal Statistical Office reported that Europe's largest economy had shrunk by half a percentage point in the third quarter, following a 0.4% decline the previous period. The UK revealed a 0.5% slide in GNP over the past three months, while Spain and Italy showed similar contractions. The one small bright spot on the map was France's unexpected 0.14% growth - fueled, just as surprisingly, by a 0.2% rise in consumer spending, and a 0.3% jump in investment outlays by businesses...
...Huebner of Orlando says he has had a number of agents in the past year who have lost their houses to foreclosure. Many, too, have just decided to leave the business. In the past two years, the ranks of agents in his offices have shrunk to 130 from a high of 170. The slower market of the past two years has also forced him to cut costs. He closed one of his four offices and eliminated most his print advertising. In order to survive, Huebner says many of remaining brokers have changed what they do. They have gotten...
...hydrocarbon windfall that fueled the Russian state's recent revival appears unable to offer a solution to the crisis. Russian foreign-currency reserves that stood at almost $600 billion last August have shrunk to $485 billion as the state has been forced to spend to bail out state-run banks and prevent abrupt devaluation of the weakening ruble. There is no telling if the policy has worked, though, and there's worse to come: major state-run corporations such as Gazprom and Rosneft, as well as Russia's regional governments, have accumulated debts amounting to some $448 billion that...
...financial muscle to become a lender of last resort amidst a liquidity crisis. Although the country had been known for generations as an isolated fishing outpost off Europe, in the last few decades the national economy veered from fish to finance. According to official figures, the fishing industry shrunk from 16 percent to 6 percent of GDP between 1986 and 2006. Banking, insurance, and property, meanwhile, came to represent 26 percent of GDP by 2006. At the core of this transformation was the spectacular growth of Iceland’s three main banks, Glitnir, Landsbanki, and Kaupthing, all of which...
...past 18 months fueled extensive capital flight that has weakened the rupee and depleted forex reserves. A failure to increase the capacity of electricity production now plunges Pakistan's main cities into darkness for up to ten hours a day, with longer periods in rural areas. Industrial output has shrunk with employers now laying off employees they can no longer afford to keep. And Pakistanis have begun to take their anger to the streets. In parts of Lahore on Monday, scores of protesters laid siege to the local office of the electricity utility, ransacking the building and burning their electricity...