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The phrase "a time of shrinking" is correct and usable in written English.
It can be used to describe a period characterized by reduction or decline in various contexts, such as economics, population, or resources.
Example: "The company faced a time of shrinking profits due to increased competition and market saturation."
Alternatives: "an era of decline" or "a period of contraction".
Exact(49)
In a time of shrinking budgets, both are loath to spend the money.
And, in a time of shrinking budgets, turf battles between the fusion centers and federal law enforcement are a certainty.
Partly, it may be a way to subsidise aerospace companies in a time of shrinking defence budgets.
Governments across Europe are struggling to cope with the needs of rapidly aging populations at a time of shrinking revenue.
Instead, the networks have ramped up their development efforts this season — which means additional investment at a time of shrinking profits.
Such programs have the added benefit — especially during a time of shrinking government budgets — of focusing aid on students with a good chance of becoming graduates.
Similar(9)
It is harder to look outward at a time of retrenchment and shrinking opportunities.
In a time of repossessions and shrinking lending, it's clear that the property market is no place for the faint-hearted.
They are struggling with an estimated $77.7 billion shortfall just to get to a state of good repair, at a time of growing ridership, shrinking state support and budgetary shortfalls.
And he directly confronted those who might ask how the country could afford a major expansion of health coverage in times of shrinking revenues and burgeoning deficits.
In these times of shrinking open tracts of land, water company land is considered a valuable hunk of nature.
More suggestions(15)
a borough of shrinking
a sense of shrinking
a means of shrinking
a picture of shrinking
a habit of shrinking
a string of shrinking
a vise of shrinking
a story of shrinking
a result of shrinking
a time of coming
a future of shrinking
a climate of shrinking
a matter of shrinking
a revival of shrinking
a garden of shrinking
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com