The phrase "a major contraction" is correct and usable in written English.
It can be used to describe a significant decrease or reduction in size, scope, or intensity in various contexts, such as economics or physical phenomena.
Example: "The recent economic downturn has led to a major contraction in the job market, affecting thousands of workers."
Alternatives: "a significant decline" or "a substantial reduction."
"They will now see significant collateral damage — a major contraction in growth, and the financial system will continue to implode.
The end of the Cold War in the early 1990s resulted in a major contraction of U.S. defense industries.
Now, they are no longer racing to take advantage of the tax breaks while planning for a major contraction in the industry in 2017.
The study, which came out on Election Day, estimates "the economic impact — in terms of jobs, compensation and tax revenues — of a major contraction involving one or more of the Detroit Three automakers," under two separate situations.
Employment suffered a major contraction in December 1981 and January 1982, and workers did not see a stable market for about 10 months, including another big round of layoffs in July 1982.
Nevertheless, a major contraction of the industry occurred in both the United States and Britain; by 1949, in fact, the producers were essentially the same as those of the prewar period.
That is not the mark of any major contraction in business conditions".
"The risk of a new major contraction can't be ruled out".
"Over the recent past, signs of emergence from the crisis have more than once given way to a renewed slowdown or even a double-dip recession in some countries," the report said, adding that "the risk of a new major contraction cannot be ruled out".
For-profits reduced operating expenses more aggressively than not-for-profits but faced even larger reductions in revenues, suggesting a fairly major contraction in the intensity of services provided.
But both are also keen to find synergies and share their skills at a time of major contraction in the west, which has seen massive financial losses by firms such as Chrysler, General Motors (GM) and also Toyota.
