That contraction began in the summer of 1990 and ended in March 1991, according to the National Bureau of Economic Research.
Now we learn that these are the first expenses to be cut when a contraction begins.
In the current and past two recessions, interest rates never got very high and the Fed actually began to lower them before the contraction began.
The contraction began in the final three months of 2011 and the economy did not start growing again until this summer, when output was boosted by Olympic ticket sales.
Though the UK's deficit-reduction effort includes not only massive spending cuts but also significant tax increases — in contrast to what's being proposed here — the contraction began even before the tax hikes took effect.
These issues have confronted borrowers since the mortgage market's contraction began a few years ago, but buyers and mortgage professionals say they have grown more problematic as more people try to capitalize on low home prices and mortgage rates.
Widespread continental ice sheets had developed in Gondwana to the point that their expansion and contraction began to drive the rise and fall of sea level, producing cyclic depositions that characterize the later part of the Carboniferous.
By the end of the century, the family's expansion had ceased and a contraction began, as the next generations dribbled away the property, whole bazaars sold to feed some whimsy, expending old gold on elaborate hospitality, and subjecting themselves to the ministrations of sharper, hungrier men, whom they could not be bothered to oppose.
Once contraction began, hEB could be maintained in a simple media formulation for extended periods, as previously described [44].
However, by the time the numbers of OVA-specific CD8+ T cells peak and contraction begins, the expression of these apoptotic mediators is reduced to baseline levels.
