The phrase "a serious contraction" is correct and usable in written English.
It can be used in contexts discussing economic conditions, health issues, or any situation where a significant reduction or tightening occurs.
Example: "The country is facing a serious contraction in its economy due to the recent global crisis."
Alternatives: "a significant decline" or "a major reduction."
During the crisis, the eurozone was in mild recession, while the periphery experienced a serious contraction.
But while MakerBot has undergone a serious contraction, the company is still kicking.
The index remains above the threshold of a serious contraction in American industry, but the 5.2-point drop from the previous month in the manufacturing survey is the largest since the financial crisis, and was only exceeded one other time — following the September 11 , 2001terror attacks on the U.S.
In many developed countries, the economic crisis started in 2008 producing a serious contraction of the financial resources spent on healthcare.
However, the policy turned out to be propelling a more serious contraction of the Thai economy and credit crunch.
We would experience a much more serious contraction than what we experienced, and what we experienced is really quite bad.
Yet, even with balmy weather in November, it too has suffered serious contraction as a series of strikes have put off holidaymakers.
How to make art history The Pop master's highs and lows Inflatable investments Treasures reclaimed A whole new world Sources & acknowledgmentsReprintsThe current downturn in the art market is the worst since the Japanese stopped buying Impressionists at the end of 1989, a move that started the most serious contraction in the market since the second world war.
Sudan's economy has suffered serious contraction since oil revenues dried up.
"In the face of the most serious contraction in decades, it is hard to imagine that Mexico will avoid recession too," said Gray Newman, Latin American economist for Morgan Stanley in New York.
But history shows that it's a serious mistake to equate an economic contraction with a technology crisis.
